By Euro Weekly News Media • 19 March 2016 • 6:00
CHEAPER: By 2022.
DESPITE international pressure to clamp down on air pollution and carbon emissions, electric cars have remained something of an unfulfilled promise much like hover-boards in the 1970s.
Although we’ve been hearing these reports for what seems like ages, it does now look as though electric cars may soon make financial sense for the average consumer outside Hollywood and Bangkok traffic jams.
A new report issued by Bloomberg New Energy Finance indicates that, as efficiency increases and battery prices drop dramatically, electric cars will be cheaper to own and run than their petrol counterparts by as early as 2022.
The news indicates a coming wave for an industry that has long remained dormant due to technological and market hurdles.
At present roughly 1 per cent of new cars sold are electric but this is accounted for largely by battery price and strength.
Forecasts for battery prices, the length of time they can run, and world gasoline prices, all indicate that the internal combustion engine will be an ineffectual and costly means of individual transport in the next decade or so.
Various governments are already ploughing resources into electric infrastructure, including public charging points, with the UK setting itself a lofty target of the majority of new car sales being electric by 2030.
As prices continue to fall, however, consumers likely won’t need any extra encouragement.
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