zzdcar
Home
/
Reviews
/
Tech
/
Your New Electric Car Will Cost Less To Produce Than Your Old Gas Guzzler Very Soon
Your New Electric Car Will Cost Less To Produce Than Your Old Gas Guzzler Very Soon-July 2024
2024-02-19 EST 22:10:29

Image for article titled Your New Electric Car Will Cost Less To Produce Than Your Old Gas Guzzler Very Soon

One of the most important milestones in the shift to sooner than you think. will cost less to make than internal combustion cars by the year 2027, according to a report from .

And the lower cost of production will come even sooner than that in certain . For example, electric midsize sedans and SUVs will be cheaper to make than internal combustion midsize sedans and SUVs by 2026, per the report. Just one year after that, will follow and it’s mostly thanks to cheaper batteries.

Image for article titled Your New Electric Car Will Cost Less To Produce Than Your Old Gas Guzzler Very Soon

The research that cites concludes that batteries will drive a big decrease in EV production costs in the near future. As EV batteries get cheaper, the production of electric cars gets cheaper, too, because batteries account for as much as a quarter of that overall cost.

cites a new study, which suggests that the price of batteries will decrease by more than half of where it is now, in this decade:

The new study, commissioned by Transport & Environment, a Brussels-based non-profit organisation that campaigns for cleaner transport in , predicts new battery prices will fall by 58% between 2020 and 2030 to $58 per kilowatt hour.

This means that in as little as five years from today, electric cars will actually be the cheaper option for big auto and it’s very possible that, as outlines, “tighter emissions regulations could put [EVs] in pole position to dominate all new car sales by the middle of the next decade...”

Image for article titled Your New Electric Car Will Cost Less To Produce Than Your Old Gas Guzzler Very Soon

When you take the stricter emissions that the is proposing, and you add that to the lower cost of batteries, you get a market where making and selling EVs is more lucrative for carmakers than ICE ever was.

The important question, then, is: Will cheaper to make translate to cheaper to buy? The indicates that it is a possibility:

The current average pre-tax retail price of a medium-sized electric car is €33,300 [~$40,135], compared with €18,600 [~$22,615] for a petrol car, according to the research. In 2026, both are forecast to cost about €19,000 [~$23,101].

By 2030, the same electric car is forecast to cost €16,300 [~$19,818]before tax, while the petrol car would cost €19,900 [~24,196.]

Carmakers are beginning to like not operating on . It’s possible that cheaper batteries will mean more profit for big auto, rather than EVs for the masses.

I can’t wait to see what carmakers are going to push in order to meet these upmarket margins as EV production costs go down. Really, I’m just stoked to see how they’ll swerve around the .

Image for article titled Your New Electric Car Will Cost Less To Produce Than Your Old Gas Guzzler Very Soon

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Tech
Volkswagen EVs Can Now Power Your House For Two Days (Update)
Volkswagen EVs Can Now Power Your House For Two Days (Update)
Experts have said that one of the ways to speed up EV adoption is for them to support . The ability for owners to power their house off their car or from the grid is vital. Just nine EVs on the market currently support bidirectional charging, but now VW...
Jul 27, 2025
Biden’s First EV Charging Station Goes Online After $7.5 Billion In American EV Investments
Biden’s First EV Charging Station Goes Online After $7.5 Billion In American EV Investments
Despite in investments for the development of in the , not a single charging station had gone live thanks to — until now. The first EV charger paid for by Biden’s Bipartisan deal has come online in Ohio, according to , which marks the operational start of what the...
Jul 27, 2025
Truck Fans Would Rather Wait For A Toyota Tacoma EV Than Buy A F-150 Lightning Or Cybertruck
Truck Fans Would Rather Wait For A Toyota Tacoma EV Than Buy A F-150 Lightning Or Cybertruck
fans are already cooling on despite more options on the market and news of upcoming models from the likes of Chevy and Ram. The and have yet to be released, while the has recently joined the and for sale in the U.S. And, yet, all of these current and...
Jul 27, 2025
GM Says It's Dropping Apple CarPlay And Android Auto Because They're Unsafe (Update)
GM Says It's Dropping Apple CarPlay And Android Auto Because They're Unsafe (Update)
GM is still dealing with the fallout of its decision to drop Apple CarPlay and Android Auto in favor of developing its own in-house system. In the last eight months, the company has had to deal with while still maintaining its in-house system will be “.” Since neither of...
Jul 27, 2025
Danish Investors Dump Tesla Shares After Elon Musk Calls Strikes In Sweden 'Insane'
Danish Investors Dump Tesla Shares After Elon Musk Calls Strikes In Sweden 'Insane'
Danish pension fund PensionDanmark is dumping all of its stock and putting the U.S. EV maker on its exclusion list of the companies it chooses to invest in – or not. The fund is selling all of its shares due to Elon Musk’s refusal to enter into labor agreements...
Jul 27, 2025
Costco Will Sell The Chevy Blazer EV At A Discount To Go With Your Rotisserie Chicken
Costco Will Sell The Chevy Blazer EV At A Discount To Go With Your Rotisserie Chicken
knows that you keep coming back for the and Kirkland brand, but you can now also buy a cheaper at your local warehouse. Chevy notified its dealers that members are eligible for a $1,000 rebate on the through January 2, according to . The discount is part of ,...
Jul 27, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved