Dirt cheap Russian EV

 From InsideEVs

According to the Russian Ministry of Industry and Trade (via federal news agency TASS), series production of the Russian electric city car - Zetta - will start by the end of 2020 (after a delay from Q1 2020).

This tiny EV, named after Zero Emission Terra Transport Asset, will be produced by the Russian Engineering and Manufacturing Company (REMC) start-up and offered from 450,000 rubles ($6,100/€5,190), which is quite affordable.  The Zetta's price is lower than current incentives in some European countries.

It's of course not a full-size car, but it seems that the Russian government is seeking ways to catch onto the EV revolution, which is not easy between the high-end Western models and massive scale of Chinese electrification. The production target for Zetta will be 15,000 units annually (two-thirds for export).

Aside from the battery imported from China, Zetta is - reportedly - a 99% localized product. It's a three-door, two-seater with a top speed of 120 km/h (75 mph) and a range of up to 200 km (124 miles) using 10 kWh battery. Its front-wheel drive with two in-wheel hub motors (total of 72.4 kW peak).

The petrol/diesel car market is being squeezed from either end.  At the top end, luxury car manufacturers are losing market share to Tesla.  At the bottom, EVs are now cheaper than the equivalent petrol car.   This is because a very small car doesn't require a large battery, yet can still achieve a respectable range.  And because EVs are much simpler than ICEVs, and are therefore (aside from the battery) cheaper to build.  When you include EV incentives they may even have a net cost below zero.

The percentage of Europe's car market being supplied by cars with an electric motor, whether they are hybrids, plug-in hybrids or full EVs, is already 20%.  As battery costs decline, that share is going to rise very rapidly.  When a neighbour or friend or relative buys an EV,  the knowledge that EVs are a viable alternative to ICEVs will spread.  I expect that by 2030, no new petrol/diesel cars will be sold in Europe.  The rest of the world won't be far behind.  This has huge implications for oil sales and for the oil price.

See also: The $10,000 EV