There are lots of uncomfortable truths about the electric car industry.
For one, a switch to electric vehicles may encourage new coal-fired power generation. (It is still worth switching to due to CO2 savings and electric engines' superior efficiency compared to internal combustion engines).
For another, despite the hype, EVs will take longer to become mainstream than people hope or believe. The car industry is masterful at hedging its bets and playing into the EV hype while selling millions more of the gas-driven variety.
Boston Consulting, in its optimistic view, says 1.5 million EVs might be rolling off global assembly lines by 2020, if the U.S. chips in tens of billions of dollars in investments in the cars, batteries, and charging networks.
And guess what. All that money and that 1.5 million cars would represent just three percent of the global 2020 automobile market. Three percent.
On the bright side, however, there's a gold rush of entrepreneurial activity in EVs right now, and just as price pressure is now heating up in the limited hybrid electric car market segment, it will surely happen in the coming EV slice of the market.
In fact, while so many pundits have bemoaned the high price of concept cars come to life, like the sleek Tesla Roadster (around $100,000) and the Chevy Volt (actually a hybrid), in other parts of the market prices are already dropping on newly introduced EVs.
For starters, Mitsubishi's cute, bug-like i Miev is available in Japan and is rolling into the UK soon, priced at between $31,000 ad $38,000 including the battery. The i Miev has a range of up to 100 miles and a top speed of 80 mph and is freeway zippy according to test drivers.
Even better, Electric Car Corporation's EV IE, now on sale in the UK, has a Citroen body, a top speed of 60 mpg and a range of around 75 miles. Its price? $25,660. And on its heels, UK homegrown car company Bee Automobiles says it is working on the Bee.One to be priced at just $18,500. With the lower cost of ownership of EVs, these prices are great. Kind of puts the $49,500 TH!NK City pricetag (in Holland) to shame.
Now, as auto journalist Jim Motavalli noted recently in an interview, not all of the EV companies now pitching products will actually make it to delivering the goods. The industry is too young and immature, and the demands and the competition are many.
But it's good to know that self same competition is driving EV manufacturers to get more real with prices.
Read more about electric cars of all stripes at TreeHugger
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