Will electric cars get cheaper?

World News

ELECTRIC vehicles are currently considerably more expensive than conventional petrol cars but this is expected to change dramatically over this decade.

The latest research shows that some electric vehicles will be cheaper to produce than petrol models by as early as 2026.

Will electric cars get cheaper?

Research by BloombergNEF shows that larger vehicles such as electric sedans and SUVs will be as cheap to produce as petrol and diesel models by 2026.

Small electric cars are expected to reach that threshold the following year.

The falling cost of producing batteries for electric vehicles, combined with dedicated production lines in carmarkers’ plants are said to be the main factors in driving down the price – and that excludes any government subsidies.

How much do electric cars cost?

Currently, the average pre-tax price of a medium-sized electric car is £28,914, compared with £15,800 for a petrol car, according to the research.

By 2026 though both are set to cost around £16,200.

Prices are predicted to continue to fall for electric cars.

By 2030, the same electric car is forecast to cost £13,900 before tax, while the petrol car would cost £16,200.

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A study commissioned by Transport & Environment, a Brussels-based non-profit organisation that campaigns for cleaner transport in Europe, indicated new battery prices will fall by 58 per cent between 2020 and 2030.

What companies make electric cars?

According to Motor Trend there are currently numerous companies producing electric cars and vehicles that can be bought now with many other brands and vehicles expected to come onto the market in the next couple of years.

  • Aspark – Owl
  • Audi – E-Tron SUV and Sportback
  • BMW – i3
  • Buick – Velite 6 SUV, Velite 6 Plus, Velite 7
  • Chevrolet – Bolt EV
  • Ford – Mustang Mach-E
  • Honda – E
  • Jaguar – I-Pace
  • Kia – Soul EV, Niro EV
  • Lexus – UX300e
  • Lotus – Evija
  • Mercedes-Benz – EQC
  • Mini – Cooper SE
  • Nissan – Leaf, Leaf+
  • Pininfarina – Battista
  • Polestar – 2
  • Porsche – Taycan
  • Rimac – C Two
  • Rivian – R1T, Prime Van
  • Tesla – Model 3, Model Y, Model S, Model X
  • Volkswagen – ID3, ID4
  • Volvo – XC40 Recharge

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