Hello Everyone
There has been a healthy increase in the sales of electric vehicles (EVs) in recent year. But of course, that increase is going to be much larger when it doesn't cost more to buy one. I wonder how close we are to price parity?
There has been a healthy increase in the sales of electric vehicles (EVs) in recent year. But of course, that increase is going to be much larger when it doesn't cost more to buy one. I wonder how close we are to price parity?
Hi James
I read a story on this topic a couple of days ago. Apparently, the primary factor making EVs more expensive than conventional cars is battery costs. A lot of experts believe we will reach price parity at about $100/kWh. According to the story, most EV manufacturers are currently at about $200/kWh. However, Tesla is using a different technology that has allowed them to reduce pack-level costs to, "$158.27 per kilowatt-hour in 2019, a decline of over $100 compared to four years ago."
I read a story on this topic a couple of days ago. Apparently, the primary factor making EVs more expensive than conventional cars is battery costs. A lot of experts believe we will reach price parity at about $100/kWh. According to the story, most EV manufacturers are currently at about $200/kWh. However, Tesla is using a different technology that has allowed them to reduce pack-level costs to, "$158.27 per kilowatt-hour in 2019, a decline of over $100 compared to four years ago."
Adam Thyer, Founder at GreenExecutive
Hi James
One of the advantages of EVs is that they have lower running costs, so it's important to consider the total cost of ownership during the period that you own the vehicle. A report by Deloitte says that total cost of ownership for EVs should hit parity globally by 2024 while some countries and manufacturers might reach it sooner than that. This measure is especially relevant to businesses that manage a fleet of businesses. Here's a story about some of the issues: https://www.greenbiz.com/article/tipping-point-electric-vehicle-ownership-costs-undercut-gas-and-diesel-cars-post-2022
One of the advantages of EVs is that they have lower running costs, so it's important to consider the total cost of ownership during the period that you own the vehicle. A report by Deloitte says that total cost of ownership for EVs should hit parity globally by 2024 while some countries and manufacturers might reach it sooner than that. This measure is especially relevant to businesses that manage a fleet of businesses. Here's a story about some of the issues: https://www.greenbiz.com/article/tipping-point-electric-vehicle-ownership-costs-undercut-gas-and-diesel-cars-post-2022
Now that there is no longer a local car industry to prop up, there is no longer a need for government to imposed luxury car tax, so prices on EV's should really become comparable very soon (unless coalition wants to continue to implement!)
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