EVs Could Be Cheaper to Build than ICE Vehicles by 2027
• Electric vehicles will soon be cheaper to build than gasoline-powered ones, according to an analysis firm.
While the electric transition is proceeding at a significant interesting pace (some would like it to be faster, others less so), one drag on new buyers “going electric” is the high price of EVs currently on the market.
No matter what the offer or the technology, if the price is high, fewer buyers will be able to jump in. It's a simple question of logic... and mathematics.
There is hope on the horizon, at least if a study by US-based technology analysis firm Gartner is anything to go by. The Canadian site of the Automotive News group provided a summary of their findings.
The balance of power shifts in 2027
Gartner's main conclusion is that by 2027, electric vehicles will be cheaper to build than combustion-engine (ICE) models. The driving force behind lower production costs? New manufacturing techniques and lower battery costs, this according to Pedro Pacheco, Gartner's VP of Research.