Electric vehicles reaching price parity with the internal combustion engine is seen as a key milestone in the world’s transition from burning fossil fuels. The current average pre-tax retail price of a medium-sized electric car is €33,300 (£28,914), compared with €18,600 for a petrol car, according to the research. By 2030, the same electric car is forecast to cost €16,300 before tax, while the petrol car would cost €19,900. A reduction in battery costs to below $100 per kWh, is viewed as an important step towards greater take-up of fully electric vehicles, and would largely remove the financial appeal of hybrid electric vehicles, which combine a battery with a conventional engine. “With the right policies, battery electric cars and vans can reach 100% of sales by 2035 in western, southern and even eastern Europe.

Source: The Guardian May 09, 2021 19:52 UTC