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.

People across New England witnessed a dramatic celestial event Sunday night.

Read More Show Less

EcoWatch Daily Newsletter

Visitors look at a Volkswagen ID.4 electric car at the Autostadt promotional facility next to the Volkswagen factory on Oct. 26, 2020 in Wolfsburg, Germany. Sean Gallup / Getty Images

By David Reichmuth

Over the last month, I've seen a number of opinion articles attacking electric vehicles (EVs). Sadly, this comes as no surprise: now that the Biden administration is introducing federal policies to accelerate the roll out of electric vehicles, we were bound to see a reaction from those that oppose reducing climate changing emissions and petroleum use.

Read More Show Less

Trending

A woman walks along The Embarcadero under an orange smoke-filled sky in San Francisco, California on September 9, 2020. Brittany Hosea-Small / AFP / Getty Images

Smoke from wildfires may be more harmful to public health than other sources of particulate matter air pollution, according to a new study.

Read More Show Less
China's new five-year plan could allow further expansion of its coal industry. chuyu / iStock / Getty Images Plus

On Friday, China set out an economic blueprint for the next five years, which was expected to substantiate the goal set out last fall by President Xi Jinping for the country to reach net-zero emissions before 2060 and hit peak emissions by 2030.

Read More Show Less
Trans Canada Trail and AccessNow partnership for AccessOutdoors / Trails for All project. Mapping day on Capital Pathway in Ottawa, Ontario with Camille Bérubé. Daniel Baylis

The Great Trail in Canada is recognized as the world's longest recreational trail for hiking, biking, and cross-country skiing. Created by the Trans Canada Trail (TCT) and various partners, The Great Trail consists of a series of smaller, interconnected routes that stretch from St. John's to Vancouver and even into the Yukon and Northwest Territories. It took nearly 25 years to connect the 27,000 kilometers of greenway in ways that were safe and accessible to hikers. Now, thanks to a new partnership with the Canadian Paralympic Committee and AccessNow, the TCT is increasing accessibility throughout The Great Trail for people with disabilities.

Read More Show Less