Honda expects electric vehicles to continue being more costly than gas-powered automobiles. This is the situation now, and Honda believes that unless there is a substantial shift in the future growth of electronic vehicles, the situation will stay unchanged.
As more manufacturers introduce their amazing electric vehicles, demand for all-electric vehicles has increased. The Tesla Model Y and the Ford F-150 Lightning are two of the most popular models.
Additional solutions are now available that are less expensive than their counterparts that use fuel. For instance, the beginning price of the legendary M3 is almost 30% higher than that of the BMW i4 M50 sedan. But this cannot be said about entry-level options, such as the Chevy Bolt EUV.
Lithium-ion cells are frequently seen on existing electric vehicle models. These would raise the price of electric cars over that of their entry-level gas-powered competitors.
The long-term answer, in Honda’s opinion, is not the existing lithium-ion battery. They think that Solid-State cells will revolutionize the landscape. Additionally, they acknowledged that solid-state cells are still in the future and won’t be used on the next Prologue crossover from the company. Despite this, Honda has proposed a $310 million investment in the production of solid-state cells.
Out of a revenue standpoint, Honda’s first electric vehicle in mass manufacturing, the E city car, was not a big hit. The E has garnered a lot of acclaim for its innovative design and tech-filled interiors, but many have criticized it for its meager 135-mile range and €30k+ price. Honda will certainly be expecting that the forthcoming Prologue electric crossover would sell better.