Why is the Hyundai Kona EV so expensive?
QUESTION
Hey John,
I was looking to buy a Kona EV earlier this year – but went with a Subaru XV (yes, boring mum car), because I could not justify the cost.
I have noticed that the cost for the Kona EV just keeps going up. Are they likely to start coming down in the future? Or is your crystal ball a bit cloudy on this one still.
Thought you might be able to answer this one tonight – so I will tune in.
Keep up the great work.
Carol
ANSWER
Carol,
Basically I think it’s like this: Batteries are very expensive, and this is what pumps up the price. (Economies of scale is also a factor, as BEVs are not made in anything like the same volume.) But Kona EV’s range is linked to its battery capacity, and this is a unique selling proposition which also (sadly) increases the price by 50% over that of the fully loaded ICE Kona.
(Look at it another way: if you price the battery at the same rate as that of the 36V Ryobi yard tool batteries at Bunnings, you’re just buying the battery in the Kona EV, and they’re throwing in the rest of the car, free.)
I don’t see this changing any time soon, as demand for batteries is quite high and this is pumping up the price.
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I actually think there’s an economic case for cheap, nasty EVs with about 50km range. Maybe 100km. This way a 2-car family could have a nice car for longer trips and a nasty EV for all the local running around. That is, exactly the opposite of the way the car industry is rolling EVs out.
Keep up the great work being a proper engineer; despite the fractured epistemology of the 21st Century and increasing disregard for facts (so inconvenient), STEM is still the only thing keeping humanity out of caves…
All the best,
JC
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