Electric vehicles to cost the same as conventional cars by 2018
The cost of owning an electric car will fall to the same level as petrol-powered vehicles next year, according to bold new analysis from UBS which will send shockwaves through the automobile industry.
Experts from the investment bank’s “evidence lab” made the prediction after tearing apart one of the current generation of electric cars to examine the economics of electric vehicles (EVs).
They found that costs of producing EVs were far lower than previously thought but there is still great potential to make further savings, driving down the price of electric cars....
Although the costs of EVs and current cars will be the same for motorists by 2018, manufacturers will not reach parity until 2023, when they will make 5pc margins on EVs - about equal to the profit on current vehicles...