Why are electric cars so expensive?

Why are electric/hybrid cars so expensive? There’s no chance that an ordinary family will buy one. What’s going on?

Asked on 26 April 2021 by James Carroll

Answered by Andrew Brady
They're still relatively new. There's a lot more research and development that goes into an electric car, and the costs involved increase the list price when the car goes to market. That said, they start to make more sense when you look at the finance costs and factor in savings elsewhere.

For example, an electric Vauxhall Corsa-e will cost around £50 a more month than the equivalent petrol model. That's on a four-year PCP deal, with an equal deposit. Factor in things like the cost of taxing a petrol Corsa (c.£13/month), fuelling it (you could save hundreds here depending on your mileage) and servicing it (EV servicing is usually cheaper), you could actually save a considerable amount of money by buying an electric car.
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