Thursday, May 13, 2021
By Kamal Swami
Electric Cars To Be Affordable In The Next Few Years
According to a recent study conducted by Bloomberg New Energy Finance for Transport and Environment (T&E) an NGO, the prices of electric cars will be comparatively less than the fuel based vehicles in the next few years. Commercial vehicles like vans will be less expensive than combustion based vehicles.by 2025. The same shift is believed to happen in other segments like sedans, SUVs, and small cars by 2027.
If the results revealed in this study are true then it is expected that by 2027 we will have more electric cars on the roads than the fuel based cars. It is believed that this decline in the prices of electric vehicles will dynamically shift the car owners to this segment. The study further reveals that the cost of an electric sedan will be less than 20,000 euros by 2026. However this trend will continue in the coming years and the cost will be even lesser and affordable for everyone. The cost of electric SUVs and compact SUVs will be between 20,000 euros and 10,000 euros.
The reason for the dynamic decline in the cost of the electric vehicles in the next six to seven years will be due to decline in the cost of manufacturing lithium-ion batteries. With this the increasing capacity of manufacturing electric vehicles will result in an increase in the overall production of the vehicles in this segment.
