ever wonder when you would be able to once again walk into a dealer to purchase a car
and color of your choice and at the price that you want without having to wait for months and years
or pay exorbitant markup that seems to be just a normal part of car purchasing these days
it's even more frustrating because you have to make yourself fit into a car that you are lucky
to find rather than buying a car that fits you price gouging is rampant and availability is
non-existent due to production problems as well the development and release of new models are
on standstill all due to the current supply chain issues and political instability around the globe
these are all the factors that make new car purchasing all that much unappealing these days
in this episode we will explore why everyone should hold back making a car purchasing decision
at least until 2025 for the best availability selection and price before we go on we'd highly
appreciate your support by subscribing and turning on the notification bell if you haven't already
and please don't forget to like comment and vote on the question that's presented at the
end of the video as most of the population is aware it's not the most ideal time to purchase
not only korean cars and electric vehicles but all cars in general due to the ongoing chip shortage
problems and supply chain issues the automobile industry is taking the biggest hit as even
factories are forced to stop production despite the fact that the orders are piling up also
the materials required for the production of cars are in short supply and therefore the price is
skyrocketing this is more prevalent for electric vehicles as they require more semiconductors
than ice cars and materials needed in the production of the ev batteries such as nickel
are taking the worst hit in terms of supply and the price volatility due to the russian ukrainian
conflict it's a fact that russia is not only one of the world's largest producers of nickel
but also the biggest supplier that can manipulate the prices and supply it will and can continue to
cause havoc for a prolonged period of time nickel is a key component of the lithium-ion battery with
the nmc or nickel manganese cobalt chemistry which is the high-end battery currently that's
dominating the ev industry and it's an expensive mineral to begin with that contributes to the
high prices of electric cars which often account for up to 50 of the price of an electric vehicle
companies like tesla immediately reacted to the changing situation by increasing the prices of
their evs multiple times in a matter of a few weeks and other companies are following suit
although thankfully koreans are still maintaining ultra competitive pricing even through tough
circumstances it really doesn't matter in the end as to purchase one would be next to impossible
the current wait time for delivery is now up to 18 months for some of its most popular models such as
the ev6 and the ionic 5 and some models are simply not available with no option to even order them
even if they are listed as active products for example not only that the original fan favorite
ionic electric known for its affordability and efficiency was discontinued as a result of the
arrival of its supposedly replacement ionic 5 which is vastly more expensive and not really
available anyway even the ionic hybrid and the ionic plug-in hybrid are nowhere to be found
anywhere with dealers not being able to place an order this is once again due to supply chain
issues but more due to production issues with the immense popularity of its products there just
isn't enough capacity to produce all the models and in the quantities that the market is demanding
with the current manufacturing operations which brings us to the first reason to wait to purchase
a car after 2025 as production capacity is expected to drastically improve after this time
the latest report states that there are 1 million units on back order across the board
and with the company's aggressive plan to increase the production even further especially in the
production of electric vehicles which is targeted to achieve 3 million units of sales annually
between hyundai kia and genesis in the near future the company simply doesn't have enough capacity
to not only satiate the current demand but to facilitate further growth this is the reason
why hyundai is investing 5.5 billion dollars in a new ev plant and battery factory in georgia
to add 300 000 units more to the output as part of the 10 billion overall investment towards electric
vehicles and related technologies additionally the korean auto giant will invest 17 billion
towards the expansion of ev production capacity in korea to produce additional 1.44 million units
annually until 2030. the expanded production will start in 2025 and when that happens a steady flow
of the products will be very likely also 2025 will be the year in which entry-level electric cars
will show a significant reduction in price this is because new cheaper lfp batteries will become
available to replace the current nmc batteries that use expensive materials that have become even
more expensive recently due to events such as the russian ukraine conflict in lfp or lithium iron
phosphate battery cheaper iron based chemistry replaces the more expensive nickel and cobalt
based cathodes consequently due to their low cost the lfp batteries are gaining wide popularity
even despite their critical drawback of low energy density which takes more space and
makes the weight heavier lfp is known to pack 30 to 35 percent less energy than the nmc but due
to the advancement in cell packing technology this gap is known to be drastically shrinking
a case in point is its use in tesla model 3 where lfp cells rendered only 10 miles
or 16 kilometers less in terms of range to 253 miles from 263 miles of the original
however as small of a difference as it may seem it's actually on par or even better than the
cobalt-based battery because lfp batteries can be charged up to 100 state of charge unlike the
nmc batteries that are recommended to only be charged to maximum 90 to maintain its longevity
this means that a typical nmc battery-powered ev can actually achieve a longer distance per charge
furthermore the fast charging characteristics appear to be as good if not better in the case of
lfp which is another advantage along with being longer lasting no wonder tesla has equipped 50
of all evs manufactured in china with lfp batteries and ultimately planning to
convert all of its standard range models worldwide to come with the lfp batteries
also even companies like mercedes-benz and vw are adapting the lfp batteries for their
entry-level models with the lfp cells sourced from chinese battery manufacturers like catl and byd
naturally the chinese are currently leading in this field but koreans who are the world leaders
in the nmc batteries are determined not to give away lucrative lfp business to the chinese in
addition to hyundai's collaboration with the current leader catl for the development of the
lfp batteries hyundai's leading battery suppliers such as lg and sk are busy at work getting ready
to produce lfp batteries in fact lg is building an lfp dedicated factory in the us by investing
1.7 billion to produce 20 gigawatt hours of lfp cells annually which would be operable by the end
of the next year and the supply to hyundai for entry-level electric cars such as the upcoming
ionic 3 and ev4 will follow subsequently and for this reason the introduction of the new affordable
entry models will be delayed until such time that lfp battery production will be in full swing
as there is no other way to substantially reduce the price of entry-level electric vehicles
for example currently there is very little price difference between the smaller 400 volt
niro ev and the larger ev6 with the latest 800 volt technology because the price of the
current nmc battery accounts for so much in the proportion to the price of the whole ev as such
it's not surprising that the e-nero with a larger 64 kilowatt hours battery actually costs more than
the bigger and more advanced ev6 base model with a smaller 58 kilowatt hours battery therefore it
won't be until 2025 and later that hyundai would be able to substantially bring down the prices
of its entry-level models with the lfp batteries the eagerly anticipated models such as the ionic 3
and the ev4 compact crossovers will also be joined by the ionic 4 and ev3 hatchbacks as the next lfp
battery equipped electric vehicles to feature the 800 volt technology which would be another
reason to hold off on purchasing korean evs after 2025 when more model choices will be available
but the economical lfp battery is not the only reason why you would wait until 2025 and after
to purchase an electric vehicle affordable entry models such as the kia ev3 and ev4 and the ionic 3
and 4 are only a part of a total of 31 ev models that the koreans are preparing for the future
also being developed are models that are at the higher end of the spectrum such as the genesis
gv90 which would be challenging the likes of the mercedes-benz eqs suv and range rover electric for
the title of the most luxurious and the advanced evs in the world when it's released in 2025 and
the key factor for the success is known to be the next generation high density battery we have
previously reported that hyundai has invested 100 million dollars in the battery startup ses for the
development of the lithium metal battery which is the next generation hybrid battery that takes the
advantages of the solid-state battery with the highest energy density and the manufacturability
of the traditional ion batteries to double the energy density while keeping the cost of
the manufacturing down until the full solid state battery can be commercialized in 2030 the lithium
metal battery which will be produced starting in 2024 will be the most advanced battery available
and will be utilized in the high-end hyundai motor group electric vehicles such as the gv90 and other
genesis evs in the future the kia ev8 luxury electric sedan rumored to be a successor to the
prolific stinger would be another candidate to receive the highly advanced battery when
introduced after 2025. simply put there will be so much more choices and selections to choose from
by waiting until 2025 with all new models that are being targeted for launch after such time
as it will be the first year in which the korean automaker is putting forth its first step towards
complete carbon neutrality by offering only the electric vehicles and the electrified cars
finally experts predict that the current state of automotive manufacturing disarray
comprised of the high materials cost ship shortage and supply chain issues will continue until 2024
meaning that price instability and supply problems will continue to prevail until such time with
normalization to start from 2025 making it the last but perhaps most important reason to wait so
returning to the days long gone when you were able to walk into a dealer to choose from a vast array
of available models and buy it at the price that you want seems still long away however the future
looks to be in a much better shape in just a few years with the prospect of new technology and new
models being readily available to suit everyone's needs and prices to meet everyone's budget making
the weight all worthwhile as for the end of the video question what would be the best reason for
you to wait until 2025 to purchase a new car if you would be inclined to wait at all please vote
and share your views by clicking on the link in the comment section below or in the description
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