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Electric cars were once luxury vehicles. Now they are for every driver

by News Room
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The company introduced slightly cheaper models; The Model S, a five-door sedan first produced in 2012, had a base price of $60,890 (£47,615). Yet its price put it completely out of reach for most consumers, who paid around $25,000 (£19,550) for an average new car at the time.

Electric cars were also difficult to charge in the beginning and had a much smaller range than today. The first wave of sales went to wealthy early adopters, Micalek says, who were willing to believe in new automotive technology and had the money to keep an internal combustion engine car with them for long trips.

But while Tesla dominated market share and became synonymous with electric cars, something else was happening in the background: other automakers were pushing the idea of ​​the electric car as a status symbol rather than trying to bring the average driver an easy-to-use option that would lead to higher adoption rates.

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The Nissan Leaf—an all-electric compact car that first hit showrooms in 2010—beat Tesla to the North American market. Although it didn’t take off in quite the same way or capture the same market share as Tesla, it hinted at the future of the electric car as an accessible car: “Leaf” was short for “Leading Environmentally friendly Affordable Family.” It still wasn’t cheap at $32,780 (£25,638) – but it started to give non-luxury drivers access to electric cars. Today, with electric vehicle technology becoming cheaper and cheaper, companies are focusing more and more on bringing electric cars to market at competitive prices.

New electric cars on the block

The trend of electric cars entering the market will not only continue, but increase, especially as production costs decrease. There are still a lot of expensive, luxury-focused electric cars on the market: Tesla still focuses on serving high-end consumers, for example; and GMC’s six-figure Hummer will do well in 2021. Still, these EVs are increasingly in the minority.

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