Will electric vehicles take over and become cheaper than gas powered cars?

Mudassir Ali
Feb 15, 2020 04:57 AM 0 Answers
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Mudassir Ali
- Feb 15, 2020 04:57 AM

Well to own and operate, one can easily argue that they are already lower costs.

But most people only look at the up front new purchase price of a vehicle. By 2025 EV new purchase prices will be on par with equivalent ICE vehicles. And beyond that, they’ll actually be lower baseline purchase for comparable vehicles.

You can figure the baseline cost minus the drive trains to be equivalent for comparable vehicles. EV’s drive train is the Motor + Battery Module, ICE drive train is Engine + Transmission. Electric Motor is a small fraction of the cost of an IC Engine. The battery has been much more expensive, but it’s also gone from about $500 / kWh to $100 / kWh over the past 6–7yrs. It will be below $50/kWh in the next few years, which is the point where experts agree that the drive train of the EV is on par with the drive train with ICE.

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