Why are electric vehicles so expensive?

There are many factors at play in the pricing of electric vehicles these days. Supply chains, assembly lines, and R&D can all play some part in the MSRP of an electric vehicle before its first sale.

Probably the most notable factor today is the cost of batteries. Battery packs are vital to the longevity and performance of any electric vehicle, but they are expensive. Developments in battery technology as well as swapping practices have significantly helped lower the cost of EVs in recent years.

However, current battery components are gathered and produced by a select group of manufacturers, like in China for instance. The price of importing multiple resources and parts from overseas can add to the overall price an automaker must charge consumers to make a profit.

In the US in particular, automakers are breaking away from this battery reliance, and have begun erecting their own manufacturing facilities stateside, to shorten supply chains and overall costs.

The vehicles mentioned below come with plenty of pricey features, even in their most standard trims.

The most expensive 2022 model year electric vehicles

To begin, we want to point out that this list caters to some of the most expensive consumer EVs today. There are plenty of electric supercars out there that cost much more, but they’re not exactly prevalent on roads and highways.

Keep in mind that the prices provided are the MSRPs and do not include any state or federal incentives, or any additional fees for destination and documentation unless specifically noted.

All prices are accurate at the time of posting, and we will update them as they change.

Ford F-150 Lightning Platinum

Even before a single pickup was delivered, Ford’s F-150 Lightning had the makings of greatness. With well over 200,000 reservations in place, the early demand for the all-electric pickup was there. As a result, Ford has increased the Lightning’s production capacity twice already.

While the Standard Pro trim F-150 Lightning starts just under $40,000, its price goes through several other options topped by Platinum. The Platinum F-150 Lightning has finally arrived and already sits as one of the most expensive electric pickups on the market this year. This trim comes with 22″ aluminum wheels with black painted pockets, heated and ventilated Nirvana leather seats, and the extended battery pack standard.

That delivers an EPA estimated range of 280 miles, all for only $90,874. All 2022 trims of the Ford F-150 Lightning have begun deliveries, but if you haven’t reserved one yet, you’ll waiting until the 2023 models come out… possibly 2024.

Rivian R1S Adventure Edition

Rivian is one of the EV manufacturers that should find continued success in 2022. Last September, Rivian officially began rolling customer versions of its R1T pickup off its assembly lines, becoming the first company to deliver a fully-electric truck.

Considering all the Launch Editions are spoken for, the seven-seat R1S SUV is arriving to customers next. Its Adventure Edition trim starts at a purchase price of $75,500 for the Large Pack battery which promises 316 miles of EPA estimated range.

The R1S trims will be assembled at Rivian’s current facility in Normal, Illinois and eventually at the automaker’s second planned facility in Georgia. The Adventure and Explore trims of R1S are expected to follow sometime this year.

Fisker Ocean Extreme / One (Launch Edition)

We wanted to point out Fisker’s flagship SUV, the Ocean, because it sits as both one of the pricer EVs as well as one of the most affordable depending on what trim you get. When the Ocean was unveiled at the LA Auto Show last fall, it made a splash based off its overall look, features, and most importantly, price.

Founder and CEO Henrik Fisker revealed at the time that the Sport trim of the upcoming Ocean will start at an MSRP of $37,999 – meaning that if someone were to qualify for the entire $7,500 EV tax credit in the US, they could purchase an Ocean for just over $30k.

That’s a huge selling point for consumers looking to go electric, but the Ocean Sport may not be for everyone. On the other side of the pricing spectrum is the Ocean One.

This launch edition trim of the Ocean comes with all top tier features including 22″ F3 SlipStream Wheels, a SolarSky roof which can supposedly add an additional 29 miles of range per week, and a special “Ocean One” designation including an optional Big Sur Blue w/ Metallic Matte Finish.

Only the first 5,000 Oceans will debut in the One trim, but you can get all of the same features aside from the paint and Ocean One monicker in the Extreme trim – both have an MSRP of $68,990 and should arrive in November.

Current/Upcoming electric vehicles sorted by most expensive

For the sake of keeping a tidier list, we have only added 2022/2023 model year EVs that have MSRPs of $45,000 or more.

Note – All prices listed below do not include taxes, destination fees, or federal tax credits unless specifically noted.

EV Make/Model/Trim MSRP (USD) Scheduled
Release Date
Porsche Taycan Turbo S Cross Turismo $187,700 Available
Porsche Taycan Turbo S $185,000 Available
Lucid Air Grand Touring Performance $179,000 Available
Lucid Air Grand Touring $154,000 Available
Porsche Taycan Turbo Cross Turismo $153,500 Available
Porsche Taycan Turbo $150,900 Available
Audi RS e-tron GT $142,400 Available
Tesla Model S Plaid $134,490 Available
Porsche Taycan GTS Sport Turismo $133,300 Available
Tesla Model X Plaid $131,990 Available
Porsche Taycan GTS $131,400 Available
Lucid Air Touring $125,900 Late 2021
Mercedes-Benz EQS 580 4MATIC $119,110 Available
Tesla Model X $110,490 Available
Porsche Taycan 4S Cross Turismo $110,300 Available
Porsche Taycan 4S $103,800 Available
Mercedes-Benz EQS 450+ $102,310 Available
Audi e-tron GT $102,400 Available
GMC Hummer EV³ˣ Pickup $99,995 Fall 2022
Tesla Model S $99,490 Available
Porsche Taycan 4 Cross Turismo $93,700 Available
Lucid Air Pure $92,400 Late 2022
Ford F-150 Lightning Platinum $90,874 Available
Porsche Taycan $82,700 Available
BMW iX xDrive50 $82,300 Available
Mercedes-Benz EQB 350 4MATIC ~$77,775 Available (Europe)
Summer 2022 (US)
Ford F-150 Lightning Lariat (Extended Range) $77,474 Available
Rivian R1S Adventure Edition (Large Pack) $75,500 2022
Mercedes-Benz EQB 300 4MATIC ~$74,000 Available (Europe)
Summer 2022 (US)
Rivian R1T Adventure Edition (Large Pack) $73,000 2022
Ford F-150 Lightning XLT (Extended Range) $72,474 Available
Rivian R1S Explore Edition (Large Pack) $70,000 2022
Jaguar I-Pace HSE (2022) $69,900 Available
Audi e-tron Sportback $69,100 Available
Fisker Ocean Extreme / One (Launch Edition) $68,999 November 2022
Ford Mustang Mach-E GT Performance $67,995 Available
Genesis GV60 Performance $67,890 Available
Rivian R1T Explore Edition (Large Pack) $67,500 2022
Ford F-150 Lightning Lariat (Standard Range) $67,474 Available
Audi e-tron SUV $65,900 Available
BMW i4 M50 $65,900 Available
Tesla Model Y Performance $63,990 Available
Ford Mustang Mach-E GT $61,995 Available
Tesla Model Y Long Range $60,990 Available
Volkswagen ID.5 GTX* ~60,000 incl. VAT* Available*
Tesla Model 3 Performance $58,990 Available
Genesis GV60 Advanced $58,890 Available
Cadillac LYRIQ $58,795 Available
Volvo C40 Recharge Pure Electric $58,750 Available
Vinfast VF9** $55,500** 2022
Kia EV6 GT-Line Dual Motor e-AWD $55,900 Late 2022
BMW i4 eDrive40 $55,400 Available
Ford F-150 Lightning XLT (Standard Range) $52,974 Available
Ford Mustang Mach-E CA Route 1 Edition $52,775 Available
Tesla Model 3 Long Range $52,490 Available
Volkswagen ID.5 Pro* $~52,000 incl. VAT* Available*
Subaru Solterra Touring $51,995 Available
Volvo XC40 Recharge $51,700 Available
NIO ET5* $51,450* September 2022*
Kia EV6 GT-Line RWD $51,200 Available
Kia EV6 Wind Dual Motor e-AWD $50,900 Late 2022
Hyundai IONIQ5 Limited $50,600 Available
Fisker Ocean Ultra $49,999 November 2022
Polestar 2 (Dual Motor) $49,900 Available
Ford Mustang Mach-E Premium $49,100 Available
Subaru Solterra Limited $48,495 Available
Kia EV6 Wind RWD $47,000 Available
Tesla Model 3 RWD $46,490 Available
Nissan Arriya $46,000 Fall 2022
Hyundai IONIQ5 SEL $45,900 Available
Polestar 2 (Single Motor) $45,900 Available
Subaru Solterra Premium $44,995 Available
Updated 6/30/2022

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