EVs to be cheaper than petrol cars in eight years

EVs to be cheaper than petrol cars in eight years

Research finds EV will be budget pick by 2025…

There’s no doubt electric cars are surging ahead in popularity, especially in Europe.

In Australia though, well we haven’t seen anywhere near that same enthusiasm for EVs.

Just 98 electric vehicles were sold locally in April 2017.

The simple fact is, petrol-powered cars are generally a lot cheaper to buy than comparative EV models.

While relatively low petrol prices aren’t driving motorists to have to look at alternatives either.

Our expansive geography and related ‘range anxiety’ is also seen as a big factor in slowing the uptake.

But all that is expected to shift over the next decade as EVs become more affordable.

The shift could accelerate if we see oil prices increase.

Bloomberg New Energy Finance is now predicting that electric cars will be cheaper to buy than petrol-powered alternatives by 2025.

Researchers, including Colin McKerracher, believe battery prices, a critical factor in high EV prices, will drop by as much as 77% between 2016 and 2030.

“On an upfront basis, these things will start to get cheaper and people will start to adopt them more as price parity gets closer,”

“After that it gets even more compelling.”

Speaking of electric cars, did you hear Simon Lai’s review of the new Tesla Model X on this week’s Behind the Wheel Podcast?

About Kate Richards 1549 Articles
Kate has always had an interest in writing and cars and now as a key member of the Behind the Wheel website team she gets to spend her days consumed by both.Aside from being a contributor and an editor at Behind the Wheel, Kate enjoys driving her Lancer EVO and walking her beloved dog, Max!

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