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PHOTO CAPTION: BAIC electric car prototype using Better Place battery exchange system.

Options Limited for Financing Electric Car Batteries

Better Place may have come up with the optimal solution.

Published: 14-Nov-2010

The electric car has had a rather long and controversial history. It has taken many years for car manufactures to start a regular roll out of hybrid and electric cars. The road to driving around in green cars has been a bumpy one, with many speed humps and road blocks in the way. Now, it seems one of the major problems is price. However, the carmakers such as GM and Nissan aren’t too bothered by this prospect.

At the moment, the batteries that are designed to be used in electric cars cost $10,000 each. This adds greatly to the retail price of the car, detracting car buyers from purchasing these vehicles. It’s not just the initial cost that turns away potential buyers, but also the after sales costs, such as repairs, keeping the battery charged, maintenance, and other such cost price out many motorist from own a clean vehicle.

Many car owners just don’t like paying more for less. We’re taught not to pay more for less from a young age. People work hard for their money, and want the best they can get. With electric cars, you pay more for less of a car. Over time, the electric models will supersede the current models, and the car industry knows this. The investment now in electric cars will see the technology grow in leaps and bounds. One day, we may see an electric Nissan Skyline out doing a current model Skyline.

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