How much does it cost to build an electric car?
I knew electric cars were more expensive, but not _this _expensive! I know automakers have to source rare minerals and materials overseas, but I can't help but wonder how much it _actually_ costs to make an electric vehicle. How much would you say it costs to build an electric car?
Elaine Duvet · Answered on May 17, 2022
Reviewed by Shannon Martin, Licensed Insurance Agent.
I hear you! When I first started researching electric vehicles, I was pretty shocked as well! Luckily, the sticker price is typically reduced after applying for a federal tax credit. And the amount of money you’ll save on maintenance and gas in the long run definitely makes EVs worth the cost.
Here’s what we know about the cost of building an electric car:
- While EVs have fewer components than gas-powered cars, they’re still _more expensive _to produce.
- Depending on the size of the vehicle and what types of add-ons it will feature, it costs an automaker about** $17,000 to $25,000** to complete.
- Many carmakers are looking into how to make the production of these futuristic cars more affordable and **efficient **for the years to come.
Now that you have a better understanding of how much electric cars are actually worth, you can feel good about purchasing one for yourself. Another way to save money with your car is to have an awesome car insurance plan at the lowest rate possible.
If you think you may be overpaying for your coverage every month, check out the Jerry app.
Jerry’s experienced and friendly team of agents are here to answer your questions and provide advice on the best policy options. With Jerry, customers save an average of over $800 a year.
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