E-car fan Mr. Sparks has to pay about €33,000 for his Hyundai IONIQ Electric Trend at a dealership, while Mr. Burns only has to pay €24,550 for the Hyundai i30 1.4 T-GDI Trend DCT. That means the electric version is around 34% more expensive than its petrol counterpart.
Why is there such a big price difference? The primary cost factor for the Hyundai IONIQ is its battery. It makes up about 40% of the total value.
Automobile experts predict that in a few years even large batteries, which allow a reasonable range, will be available for less than €10,000. By 2020, prices will already be 20% lower than in 2016.
In 2010, battery costs were still about €600 per kilowatt hour (kWh). Since then, the cost of lithium-ion batteries has steadily fallen year by year. Analysts have calculated that car companies had to pay an average of €170 per kilowatt hour in 2017. That's about 25% less than the previous year. According to a recent study from Horváth & Partners, a kilowatt hour may cost less than €100 in 2020.