Economic cost of electric transport

Electric vehicles are expensive to purchase and maintain, making them a luxury item of the wealthy, rather than something accessible to the average consumer. Because of the cost barrier, they will not become a widespread product. Despite the decrease in the cost of making batteries, electric vehicles remain expensive, and it is unlikely the cost of making them will drop much more. The natural resources used to make car batteries are limited, so they are not likely to become cheaper. ^[1] As the demand for raw materials increases, the price will also increase because of high competition and limited quantity. If those prices increase, then electric car prices will not continue to decrease. Maintenance poses another cost barrier. Electric vehicles require a large supply of electricity, specialized maintenance, and frequent tire changes. The increased use of electricity would increase a consumer's utility bill. Car maintenance would require consumers to go the car dealerships, which tend to charge higher rates. Due to the economic cost of electric vehicles, it is unlikely that these will become the transportation norm. ^[2]