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Battery powered cars will soon be cheaper to buy than conventional gasoline ones, offering immediate savings to drivers, new research shows.
Automakers from Renault SA to Tesla Inc. have long touted the cheaper fuel and running costs of electric cars that helps to displace the higher upfront prices that drivers pay when they buy the zero-emission vehicles.
Now research from Bloomberg New Energy Finance indicates that falling battery costs will mean electric vehicles will also be cheaper to buy in the U.S. and Europe as soon as 2025. Batteries currently account for about half the cost of EVs, and their prices will fall by about 77% between 2016 and 2030, the London-based researcher said.
"On an upfront basis, these things will start to get cheaper and people will start to adopt them more as price parity gets closer," said Colin McKerracher, analyst at the London-based researcher. "After that it gets even more compelling."
The secret is in the battery.
(Score: 2, Insightful) by realDonaldTrump on Friday June 02 2017, @12:24AM
I think it's terrible that the United States has become an investment banker and virtually everybody they back goes out of business. You look at what's going on with the solar panels and the solar energy. You look at these horrible windmills that are destroying every environment. They're destroying areas. They're destroying neighborhoods. They're killing all the birds. The windmills are the worst of all. And we're backing all of this garbage that doesn't work and it's really disruptive. And they're all going out of business. We're not an investment banker. We're a country that has to take care of its people. But every time we make an investment it seems to go bad. I've gotten to know a lot of people in government, and government has a lot of fantastic people, but it's not their expertise. This is not what they're supposed to be doing. And frankly even the great investment houses make mistakes, but at least they have to pay a price for it. The government isn't paying a price. It's hundreds of billions of dollars and that's a lot of money. But the big culprits are other countries and what they're doing to us. You look at, as an example, Brazil gets the Olympics. We wanted to get the Olympics, we don't get anything. You look at, as an example, South Korea. We're spending tremendous. We're spending billions and billions of dollars to protect them from North Korea. They're not giving us anything. What are we doing? I mean, you know, they're a competitor of ours. Hey, they're wonderful people. I've had partners from South Korea. They're wonderful people. But why are we doing this all free? We're not that. We're not in that position as a country. They should be paying us for this. We send those aircraft carriers over. We send all those ships and those planes and the bombers. And we get nothing out of it. Except, in all fairness, they take most of our business. You know, they've made some unbelievable deals with our government. They are just taking our business, South Korea. So why aren't they paying for this kind of protection? This is just one of many things. So, when you talk about Solyndra, that's a lot of money, but the big money is what other countries are doing to us. So we shouldn't be doing this. We should not be backing a car company that comes up with a new concept for an electric car. That's perfect for Wall Street. Let it happen in Wall Street, and if it works, that's perfect for Wall Street. And if it doesn't happen they lose their shirt and that's the way it's supposed to be. MAKE AMERICA GREAT AGAIN!