Quantcast
Environmental News for a Healthier Planet and Life

Electric Vehicles Likely to Be as Cheap as Conventional Cars by 2025, Says Economist

Popular
Electric Vehicles Likely to Be as Cheap as Conventional Cars by 2025, Says Economist
With well over a billion cars worldwide, electric vehicles are still only a small percentage. An economist from the University of Michigan Energy Institute says that is likely to change. Maskot / Getty Images

In 2018, there were about 5 million electric cars on the road globally. It sounds like a large number, but with well over a billion cars worldwide, electric vehicles are still only a small percentage.


One barrier to people making the switch from conventional cars is cost. Electric vehicle prices generally remain high, mainly because batteries are still expensive.

But Ellen Hughes-Cromwick, senior economist at the University of Michigan Energy Institute, says that's changing.

"We are observing that many manufacturers as well as technology companies and innovative start-ups are driving that cost lower," she says. "We expect that in the next three to five years, that battery cost will be very competitive."

She says that by 2025, an electric car will likely cost the same as a comparable gas-powered one.

That will make them more accessible to consumers, even without financial incentives, which have already brought down the price of electric vehicles in many countries.

So as battery technology continues to evolve, more electric cars are likely to hit the road.

Reposted with permission from Yale Climate Connections.

A rare rusty-spotted cat is spotted in the wild in 2015. David V. Raju / Wikimedia Commons / CC by 4.0

Misunderstanding the needs of how to protect three rare cat species in Southeast Asia may be a driving factor in their extinction, according to a recent study.

Read More Show Less

EcoWatch Daily Newsletter

Cyclone Gati on Sunday had sustained winds of 115 miles per hour. NASA - EOSDIS Worldview

Cyclone Gati made landfall in Somalia Sunday as the equivalent of a Category 2 hurricane, the first time that a hurricane-strength storm has made landfall in the East African country, NPR reported.

Read More Show Less

Trending

An aerial view shows pumpjacks in the South Belridge Oil Field on April 24, 2020 near McKittrick, California. David McNew / Getty Images

By Julia Conley

A new campaign unveiled this weekend by the nonprofit organization Fossil Free Media aims to expand on the goals of the fossil fuel divestment movement, cutting into oil and gas companies' profit margins through their public relations and ad campaigns.

Read More Show Less
martin-dm / E+ / Getty Images

By Jason Farley

COVID-19 has disrupted our daily lives, and it is poised to completely disrupt the holiday season. As people make holiday plans and think about ways to reduce the risks to their loved ones, a strategy is essential.

Read More Show Less
Key West voters have passed three ballot initiatives to limit the impact of visiting cruise ships on island life and fragile marine habitats. felixmizioznikov / iStock / Getty Images Plus

Despite being a well-known port of call on the Caribbean cruise circuit, the City of Key West voted to ban large cruise ships from visiting and to restrict foot traffic from vessels. Supporters and opponents disagreed about the safety, environmental and economic merits of the proposals.

Read More Show Less