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| Volkswagen and Tesla are developing inexpensive electric cars |
New, affordable electric cars are close to hit the market, according to a new report in which Tesla and Volkswagen have agreed to produce cars priced between $ 25,000 and $ 30,000.
Pricing is one of the major issues that car buyers consider in choosing electric cars over conventional cars.
Many people expect electric cars to be on par with traditional, similarly equipped cars.
Parity has been achieved in some luxury car segments, making electric cars competitive with their gasoline-powered counterparts in terms of price and performance.
The development of batteries has helped lower the prices of electric cars, as batteries are among the most expensive components in cars.
Improvements in battery technology are now allowing automakers to have higher performance, longer mileage, and lower prices for electric cars, allowing more people to own electric cars.
The lack of charging infrastructure in many parts of the world remains an obstacle, and many people also believe that long charging periods are the reason why they haven't chosen electric cars yet.
The world's two largest electric car makers have announced convincing plans for electric cars. Prices are expected to range from $ 25,000 to $ 30,000.
Tesla announced plans in September to use new battery technology to develop a smaller, long-range electric vehicle with a starting price of $ 25,000.
Elon Musk said the car will be fully autonomous and will reveal a timeframe of around three years.
Volkswagen appears to be joining the new market for small electric vehicles as the new Volkswagen is referred to as the small battery electric vehicle.
Volkswagen has set itself the goal of getting a car matching the so-called Polo from $ 24,000 USD.
Volkswagen recently unveiled the ID.3 electric vehicle, with a starting price of $ 34,000 and a size closer to the size of a golf course.
Volkswagen has not provided specific details about when its car will be marketed, but the report makes clear that the new car will be released in 2024 or 2025.