Researchers Believe EV Cars Will Be Cheaper Than Conventional Cars By 2022 - Is That What It Will Take To Kick Start The Segment?

Electric cars will be cheaper to own than conventional cars by 2022, according to a new report.

The plummeting cost of batteries is key in leading to the tipping point, which would kickstart a mass market for electric vehicles, Bloomberg New Energy Finance (BNEF) analysts predict.

The large-scale roll-out of electric vehicles (EVs) is seen as vital in both cutting the carbon emissions that drive climate change and in dealing with urban air pollution, which leads to many premature deaths every year. But, despite subsidies in many countries, EVs remain more expensive than conventional cars and the limited range of battery-only cars is still a concern. Currently, just 1% of new cars sold are electric.

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TomM - 2/25/2016 3:30:25 PM

+5 Boost

No - to kickstart the segment - it will NEED a major infrastructure of charging stations along with the ability to swap out the batteries under certain circumstances. Until I can recharge the batteries in a car within about the same time I can fill up my tank with gas - which would presumably require a battery swap - the EV cannot replace an Internal Combustion Engine for me. For some people - the ability to charge their car while at work (Or in a parking garage) would be required. But - if you run out of power or gas - I can bring a 1 gallon tank to such a vehicle almost anywhere - off road or on. If your batteries go dead on a trail - you need an OFF ROAD TOW - which is expensive.

In addition - we will need to be able to have a reasonable size car - most EVs are little tiny things. And when they get bigger - they get very expensive.

TheSteve - 2/25/2016 7:17:43 PM

+2 Boost

TomM accurately points out that price is not the only barrier. But what price point are we talking about? Are we talking about a gasoline powered $80,000 luxury sedan versus an EV version for $79,000? Or are we talking a Kia Optima gas for $22K vs an EV version for $20K?

You'll tap into a different market, depending on price point, but the car still has to meet the user's needs, and that includes TCO (Total Cost of Ownership, including battery replacements), range, ease and convenience of refueling, time to refuel, how much the user must change their usage patterns to accommodate the vehicle, etc.

I don't believe the EV's time has come yet.

atc98092 - 2/25/2016 3:55:06 PM

+4 Boost

I agree with Tom about improvements to the charging infrastructure. However, in my opinion the range needs to be about 150 real world miles per charge. By that, I mean running full heat/AC, lights on, seat heater, basically max load under "typical" conditions.

I'm not saying that this needs to be met when it's below zero outside, or 120F either. But within the more typical temperature range of 40-90F, with all normal systems in use. Under these conditions, today's "90 mile range" cars are probably closer to 60, and that simply won't cut it.

MDarringer - 2/25/2016 8:33:37 PM

+2 Boost

Bull shinola

Unless and until an EV can be recharged as fast as filling a tank of gas, they will remain not viable.

atc98092 - 2/26/2016 8:47:08 AM

+2 Boost

I disagree Matt. With the range I mentioned above, hardly anyone would need to refuel (charge) during the day. So overnight charging at home works fine, and the time it takes is not a factor.

Yes, there will be a small handful of people that drive more than that in a day, and for them an EV won't be viable. But the overwhelming majority of drivers could get along with an EV just fine. As for myself, I'll gladly trade my diesel for an EV if it has the range I mention above. It's a rare day I travel more than 100 miles.

MorePower - 2/26/2016 9:22:55 PM

+1 Boost

The only thing needed for ev sales to rise is for employers to start incorporating ev charging stations for their employees.