Report: Electric Vehicles Expected To Cost Less Than Gas-Powered Cars As Soon As 2025
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Automakers—notably Chevrolet—have done their best to bring affordable electric vehicles to market. The 2017 Bolt EV truly kicked off the electric propulsion revolution with a 238-mile range at a sub-$30,000 price.
However, things are expected to get even more affordable—in fewer than 10 years, at that. A new report from Bloomberg New Energy Finance predicts electric vehicles will be more affordable than gasoline-powered cars by 2025 at the earliest. It extends its prediction to 2030.
The blessing will be battery prices, which contribute to EVs’ high price tags and near zero profitability. Between now and 2030, the report estimates battery prices will plunge 77 percent. Factor in automakers’ ambitions to electrify more and more vehicles—economies of scale—and the prediction could be right on the money. General Motors itself certainly won’t rest after the Bolt EV.
Bloomberg previously reported the influx of EVs, their low costs and demand for alternative propulsion could be brewing an oil crash as early as 2023. Research pegs EVs to save 2 million barrels of oil per day.
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Hybrids are a stepping stone to pure EV driving, so whoever drives a hybrid already has that experience. But EVs save money, not just with the source of energy. They also save in maintenance. Search the Owner Manuals for the Chevy Spark EV and Bolt EV online at the Chevrolet web pages, read the manuals, and study the maintenance schedules. The first “replacement” of any fluid is after 95,000 or ten years!! An EV owner will be swapping tires and wiper blades sooner, and those are the only expenses.
speaking of maintenance, how much does swapping a depleted battery costs? that is about 50% of the value of an ev isn’t it?
Before or after government subsidies? Also, at California gas prices or Midwest gas prices?
Still not very usefull for me, unless they can go over 800km in a day with only one 15 minute recharge along the way, and I had better be comfortable for the trip.
The 2017 Chevrolet Bolt has a base price of about $36K; but if the Bolt had the same engine and transmission from a Chevy Cruze, it might have a base price of $22K as the only way electric vehicles can cost less than a gas powered cars is if there is a dramatic breakthrough in battery technology between now and 2025 which will allow batteries to be made for less so a Chevy Bolt would sell for $20-22K and not need Government subsidies because they would be price the same as gas powered cars.
They have no idea, they are just predicting so the article states. With lack of support or infrastructure in much of rural and small town America I don’t think these are going to proliferate as much as the mavens think.
Rural and small town America is not where the demand for EV’s is, and therefore the populations there will not determine if EV’s proliferate and become commonplace.
What everyone is missing here is that gas in the 55gallon drums cost $.95 a gallon, the rest is taxes that goes to people standing around on their shovels while they are supposed to be fixing roads. What nobody is talking about is that the taxes would shift to the electric hook ups and homeowners marking gas as affordable as electric. Now will batteries become cheaper than motors themselves? That’s the real question. I say no
No, government spending is more about the welfare state that North America is turning into with everyone looking for a handout from an ever dwindling tax paying middle class. Here in Canada electricity for your electric car will soon be subject to a carbon tax if generated by coal or natural gas.