The Cost Of Electric Vehicles And Cars With Internal Combustion Engines Will Equalize By 2024

2023 Author: Natalie MacDonald | [email protected]. Last modified: 2023-05-21 02:36

Analysts at the financial investment company UBS predicted a sharp decline in the cost of producing electric vehicles in the coming years. According to The Guardian, this could make it inevitable to completely eliminate the use of fossil fuels in transportation.

• By 2024, the price of electric cars will be equal to the cost of conventional passenger cars. The researchers came to this conclusion after analyzing the development of the production of batteries, which are still considered the most expensive part of electric cars: the share of batteries accounts for 25 to 40% of their cost.
• Additional costs for the production of electric vehicles, according to analysts' estimates, should decrease to an average value of 1,900 dollars (about 145 thousand rubles) by 2022, and disappear completely two years later. Researchers call the achievement of equal costs for the production of electric vehicles and cars with internal combustion engines a key stage in the global transition to electric traction.
• For example, in the UK, the price of a new VW Golf is now £ 20,280 ($ 26,400 or 2.05 million rubles), and a comparable VW ID.3 in size is estimated at a minimum of £ 29,990 ($ 39,100 or $ 3.03 million rubles).
• UBS expects that if analysts' forecasts turn out to be correct, then by 2025 the share of electric cars in the global automotive market will reach 17%, and by the end of the decade - already 40%.
• In Russia, at the beginning of 2020, there were only 6.3 thousand electric vehicles, but over the year their number grew by 75% at once. The most popular new electric car on Automotive News is TeslModel 3, among used electric cars the Nissan Leaf is in the lead.