The drop in diesel and gasoline prices recently only cements the value of an ICE vehicle.
It costs me about $6.00 to charge my 60kwh EV, which has a range of 238 miles.
You can't buy an EV if you can't charge at home. And you won't buy an EV if you can charge at home if you're not sure you can charge it if you move. (Not to mention if you think you might move to another state, not being able to drive your car there is a question mark)
But many people, including myself, think that EVs are better in general. If I was comparing a $15k car to a $20k car, I could be convinced to spend more on an EV if I was just comparing the vehicles themselves in an ideal environment. But that decision doesn’t make sense until the “practicality” problem is solved.
People buy BMW but they are not the most cost-efficient cars. People buy cars in London , using public transport is cheaper. Cars are prestiege, a point of pride, 'Freedom', an obsession, a place to have sex, and more to all kinds of people.
In a handful of countries.
I'd say EV are making inroads there exactly because of no infrastructure, and tech.
In Vietnam, people choose electric scooters over petrol largely because their maintainance free nature, and no need for fluids, or waiting at petrol pumps.
People like that they don't risk expensive, and lengthy breadown of their scooter when their job depend on it.
When I hear “expensive toy for the rich”, I think of a millionaire’s 3rd lambo, not Bill’s Silverado lease. Initial Teslas were sports cars, and now it’s squarely in middle class territory. Still a big improvement and a big market, and in several years, that leads to a good second-hand market and even cheaper EVs.
I think for many (not all, of course) people the problem is not price as much as practicality. I could probably be convinced to spend more for an EV, but without chargers in most apartment buildings and with limited charging networks where I might go, it’s not justifiable yet.