24 May '17, 8pm

Electric Vehicle Costs May Be On Par With Standard Vehicles By 2018

The costs of purchasing and running an electric vehicle may shrink to become even with the cost of running a standard internal combustion vehicle by as early as next year. According to research conducted by Swiss investment bank UBS, an increase in consumer demand for electric vehicles could have a significant effect on the costs associated with them. The firm recently raised its estimates for EV market share by 50 percent to 14 percent by 2025 – equivalent to 14.2 million vehicles worldwide. It also raised its 2021 projection from 2.5 million cars annually to 3.1 million. UBS also found that an EV powertrain is actually $4,600 cheaper to produce than it had initially calculated and that there is strong potential to further reduce costs as they become more popular. Once cost of ownership parity is achieved, which factors in both the purchasing price of a vehicle and runnin...

Full article: http://www.hybridcars.com/electric-vehicle-costs-may-be-o...

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