Car manufacturers are now motivated to spend billions of dollars to develop and produce electric cars. This is because of the efforts that are done by the new federal regulations that have an effect on the car companies.
However, the price of has is not cooperating with this as its prices remain to be low. This is the main reason why the public is still not on a wide scale electric car mass purchase.
Tesla's Model S is a proof of this as it plunged by 11 percent in the first part of 2016. This is based on the statements of Kelley Blue Book.
The problems that are present now are the few charging stations that are present and the limited range of miles that the EV can run before it needs to be charged. Fortunately, the trend will change due to new acts initiated by the Federal government.
Now, electric cars can be an affordable option for the public commuters even though gas prices are at an all-time low.
Presented below are the upcoming developments that will increase the sales of electric cars.
Initiative of the Government
$4.5 billion will be used by the Department of Transportation for loan guarantees in order to support the development of a large network of electric car fast-charging stations.
A coalition of auto manufacturers and utilities will also be involved in the plan. This will inspire the different states and the local government to take part in the green venture together with the electric cars. This is spearheaded by the federal government.
Development of Cost-efficient Long Range Electric Vehicles
The Chevrolet Bolt will be released in the second half of this year. This will be the very first affordable electric car that can reach 200 miles without the need for prior recharges.
This is forecasted to be below the price of $40,000. The $7,500 federal tax credit will be featured on the purchase, together with the many state and local incentives that are available in some places.
The Tesla Model 3 is capable of running 215 miles before needing to be recharged. It will be out in the market in late of 2017. The resale values of used electric cars have also significantly dropped due to the plummeting of the number of sales of new electric cars.
iSeeCars.com have initiated a survey where it shows that a one to three-year-old Nissan Leaf is now priced at $12,533. The brand new unit is priced at $30,000, even if the federal tax credits are incorporated into it.
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