The problem of the electric car that almost nobody saw five years ago

Now there is a new problem with the electric car that hardly anyone saw just a few years ago and that may jeopardize its progress in the market.

When the main drawbacks of electric vehicles are mentioned, they usually focus on three fundamental aspects: the price of the cars, autonomy, and the scarcity of charging points. However, in recent times a new electric car problem has emerged that almost no one saw a few years ago.

In theory, of the three drawbacks mentioned, two have a solution: autonomy and the installation of more charging points. As technology advances, electric cars will have more autonomy and the infrastructure network to recharge the batteries will also increase.

Instead, the price will not go down. Or, at least, not as much as some predicted years ago, when they even claimed that the electric car would cost the same or less than another equivalent with a thermal engine.

Electric vehicles are and will continue to be expensive because battery production will continue to be expensive. And the reason is none other than the costs of the raw materials necessary to manufacture them, such as lithium or cobalt.

It is true that numerous alternatives to current lithium-ion batteries are being studied to reduce the price of electric cars in the future. In this sense, we can mention sodium batteries. However, these new solutions are still in the development phase.

But, now there is a new problem with the electric car that almost nobody saw just a few years ago and that may jeopardize its advancement in the market. It is about the price of electricity, more expensive than ever, due to the current international context, and with no sign of going down in the short or medium term.

The problem of the electric car that almost nobody saw five years ago

There is a fact that cannot be discussed and that is that more and more electric cars are being sold. Not only in Europe but also in Spain, where we are a little further behind than in most of the countries that make up the European Union.

However, the electric car has not yet taken off commercially for the reasons described above. And, as if they were few, a new problem has emerged as a consequence of the current geopolitical situation, whose epicenter is in Eastern Europe, specifically, in Ukraine.

The war between Russia and Ukraine has triggered the costs of raw materials, but mainly those of energy. According to Eurostat data, the average price of electricity increased by 28.4 euros per 100 kWh in the second half of 2022, compared to 23.5 euros per 100 kWh in the same period of 2021, which translates into an increase of 21.3%.

That is in regard to the price of electricity in Europe. If we look at the situation in Spain, we see that the price of energy has skyrocketed and, more specifically, that of electricity.

According to the National Institute of Statistics (INE), the average price of electricity in January 2022 was 24.3 euros per 100 kWh, compared to 16.5 euros for the same month in 2021. This represents a considerable increase of almost 47%

An important burden for the advancement of the electric car

As we see, the price of electricity has risen significantly, which means that it is necessary to pay more to recharge the battery of electric cars. It is true that the price of fuel has also risen a lot, but now it is becoming more difficult to amortize the enormous difference in price between an electric vehicle and a combustion one.

This may have a negative consequence for the advancement of cars with electric motors, since many potential buyers may delay their decision until the landscape changes or, altogether, abandon the idea of ​​purchasing a battery-powered vehicle.

But the worst thing is that there are no signs that the price of electricity will drop to the levels of a few years ago. Consequently, having an electric car can become a real problem for an average family.

And it does not seem that the situation is going to change, because the reasons that have caused the increase in the price of electricity are going to continue to exist for a longer time. Because?

Because Europe is energetically dependent on third parties. Before, it bought a large part of the energy it consumes from Russia at a more advantageous price and now it buys it from other countries, such as the United States, at a more expensive price.