As battery prices fall, Goldman Sachs Research estimates the EV market could achieve cost parity, without subsidies, with internal combustion engine (ICE) vehicles around the middle of this decade on a total-cost-of-ownership basis.
This may be true in the US but I suspect it is already true in Europe where petrol is heavily taxed. That said, I’ve found that a lot of people only look at the sticker price and the “total cost of ownership” argument doesn’t always work on them.
I suspect we will only see true mass adoption (>80% of new sales) once EV reach cost parity on sticker price for mass market cars (e.g. Toyota Camry).
Still, good news are good news. Just pointing this out to make the case that we may need subsidies at least for 4-5 more years. Right now in many European countries you’re seeing a decrease in subsidies, IMO too early.
This may be true in the US but I suspect it is already true in Europe where petrol is heavily taxed. That said, I’ve found that a lot of people only look at the sticker price and the “total cost of ownership” argument doesn’t always work on them.
I suspect we will only see true mass adoption (>80% of new sales) once EV reach cost parity on sticker price for mass market cars (e.g. Toyota Camry).
Still, good news are good news. Just pointing this out to make the case that we may need subsidies at least for 4-5 more years. Right now in many European countries you’re seeing a decrease in subsidies, IMO too early.