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Electric Cars May Be Cheaper Than Gas Guzzlers in Seven Years

  • Parity with petroleum-fueled cars seen by 2024, BNEF says
  • Battery costs and mass manufacturing seen driving price drop
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Michal Meidan Says Electric Vehicles Are Here to Stay

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Electric cars may be cheaper than their petroleum counterparts by 2025 if the cost of lithium-ion batteries continues to fall.

Some models will cost the same as combustion engines as soon as 2024 and become cheaper the following year, according to a report by Bloomberg New Energy Finance. For that to happen, battery pack prices need to fall even as demand for the metals that go into the units continues to rise, the London-based researcher said on Thursday.