Electric Cars Will Be Same Price As Petrol Cars By 2027

Source: SMMT

ELECTRIC CARS Will Be The Same Price As Petrol Or Diesel Cars By 2027 says a BNEF study.

Most people, when asked about electric vehicles, will say the same thing, that they are so expensive in comparison to their petrol or diesel counterparts, which at the moment, is true, but, according to a BNEF study, this could all change in the next few years, in fact by 2027.

This report claims that by 2027, electric cars will be the same price as petrol or diesel-fuelled cars, which will thus allow their full integration into the automotive market, while becoming a real purchase option without assuming a sacrifice for drivers, according to 20minutos.es.

The BloombergNEF (BNEF) study for Transport & Environment (T&E) claims that sedans and SUVs will be equivalent to their fuel counterparts in terms of price already by 2026, while by 2027, small cars, and also vans, will reach this comparison in price with petrol and diesel cars.

This price reduction in electric vehicles will reportedly be brought about by a significantly lower cost in the production of batteries for the electric vehicles, as the production lines become more specialised in manufacturing this type of newer product.

A direct consequence of this cheaper production of the electric vehicles is the impact it will have on the European market says the report, going as far as to claim that by the year 2035, 100 per cent of the vehicles on the roads could be solely electric.

Transport & Environment (T&E) however warned that this drop in the cost of vehicles must be accompanied by new legislative measures promoting this type of vehicle without emissions and that more demanding measures towards emission targets should be brought in for this decade, so that, effectively, petrol and diesel cars can stop being manufactured by 2035.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]