Car companies are hooked on high-margin, expensive products. Analysts says they’re not going back to selling high-volume, cheaper products.
Ford's CEO says the future of EVs is in smaller, more affordable products. Some analysts don't buy it, arguing that car companies need higher transaction prices to make a profit. It's the customers, though, that will shape this. We tend to buy expensive, overbuilt, excessive vehicles, so that's what car companies sell. There is a fundamental truth you have to understand about car companies:They do not exist to make cars. They exist to make money.
The bigger the vehicle, the more it weighs, also necessitating more juice from a bigger pack. Fitting a truck with a larger pack substantially increases the weight, requiring… you guessed it… more batteries to offset it. Each extra cell adds more cost, but the range payoff tapers down as you saddle the car with more rare earth metals. This relationship is not theoretical. You can see it in today’s production cars. A Lucid Air Grand Touring can go 516 miles on a charge.
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