He initial cost of an electric car This is often one of the biggest deterrents for potential homeowners. On average, these cost about 10,000 euros more than their gasoline counterparts, so many may be waiting to see when prices are lowered. Without success, so far. When will they balance?
According to data from the latest study carried out by Plenoil as part of its ‘Possible Transition’ project, just over half of Spanish drivers (50.3%) are not considering purchasing an electric vehicle in the coming years. Between the main reasons for not wanting to buy an EV are its high price, in 61.3% of the cases of refusal to make the jump to an EV.
Price parity in 2025
It is true that drivers can request the ssubsidies for the purchase of electric cars, plug-in hybrids and fuel cells in each autonomous community thanks to the implementation of the MOVES III plan. However, this also forces us to scrap a car that is more than 7 years old, which may not be worth it to save us a maximum of 7,000 euros.
This is why drivers who want to make the jump to electric cars are waiting to know when they will have a comparable price and will make them buying an electric seems more profitable than to do the same with a combustion one, taking into account the restrictions that the latter, more polluting, may have in the future.
The fall in production costs and battery prices would make it feasible electrify segment B vehicles (utility or compact) of the mass market between now and 2025, according to the Transport & Environment (T&E) study based on the analysis of the consulting firm Syndex.
As Europe transitions to electric cars scales and gathers speed to meet its climate ambitions, they must become accessible to a wide group of drivers who need cars in their work and daily life. Many in the industry talk about a €25,000 battery electric car (BEV), before subsidies, as the gold standard for mass affordability.
The causes of the price drop in electric cars
As electric vehicle manufacturing accelerates and new supplies of critical metals come online, that price reduction scenario appears more likely. Only in recent months have Tesla, Volkswagen, Ford and others reduced or hinted that will reduce the prices of electric cars. Additionally, automakers can reduce battery capacity (provided the charging network is increasing), downsize vehicles, or turn to resource-poor chemicals such as sodium ions to take advantage of further reductions.
European manufacturers can make a reasonable 4% profit margin on a small battery electric vehicle produced in Europe in 2025, according to the study’s “favorable market conditions” scenario. This would see battery costs fall to less than €100 per kWh, in line with forecasts from Bloomberg and others. The report takes into account other direct cost reductions while maintaining broad industry expectations around indirect costs and margins. The B segment vehicle 25,000 euros before aid It would have a 40 kWh LFP battery and a range of 250-300 km.
