Electric Cars May Be Cheaper Than Gas Guzzlers in 7 Years — If People Actually Buy Them

We may soon be in the era of the electric car. Today, they’re around of course, but they’re not yet ubiquitous. That may soon change, Bloomberg New Energy Finance predicts — by 2025, some EV models could cost less than their gas-guzzling competitors. The biggest reason? Lithium-ion batteries, a key component of tomorrow’s electric cars, are getting cheaper. Analysts suspect that is enough to make the price of electric cars go way, way down. Trump to End the Dollar as We Know It by November 8, 2018? But let’s not get ahead of ourselves — the global electric car revolution is coming, but its timeline may not be speeding up so much. And there are a bunch of practical reasons why. First, the researchers caution that for the price of electric cars to dip lower than that of petroleum cars, the cost of the battery pack needs to keep going down, even though the price of lithium and other components may increase in the future. Granted, a price drop may still be possible if they’re mass produced . China, for example, is racing to become a leader in EV manufacturing China’s pushing EV adoption, too, going as far as […]

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