“In the next few years, the cost-of-ownership advantage will continue to lie with conventional cars, and we therefore don’t expect EVs to exceed 5 percent of sales in most markets — except where subsidies make up the difference," said Salim Morsy, senior analyst at Bloomberg New Energy Finance. “However, that cost comparison is set to change radically in the 2020s.”
When will electric vehicles be cheaper than conventional ones?
Answer: 2022
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Analysts for Bloomberg New Energy Finance predicted that traditional vehicles that run off internal combustion engines will be more expensive than electric vehicles by 2022. That shift is expected to drive electric vehicle market growth forward and reduce carbon emissions. Today just 1 percent of cars sold are electric. Oil costs, which are expected by the federal government to reach $50 to $70 per barrel by 2020, are a major factor in the trajectory of electric vehicles.
“In the next few years, the cost-of-ownership advantage will continue to lie with conventional cars, and we therefore don’t expect EVs to exceed 5 percent of sales in most markets — except where subsidies make up the difference," said Salim Morsy, senior analyst at Bloomberg New Energy Finance. “However, that cost comparison is set to change radically in the 2020s.”
“In the next few years, the cost-of-ownership advantage will continue to lie with conventional cars, and we therefore don’t expect EVs to exceed 5 percent of sales in most markets — except where subsidies make up the difference," said Salim Morsy, senior analyst at Bloomberg New Energy Finance. “However, that cost comparison is set to change radically in the 2020s.”
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