Electric cars may be cheaper than those on classic fuels by 2025 if the cost of lithium-ion batteries continues to fall, according to a Bloomberg New Energy Finance report.
Some models of electric cars could cost as much as combustion engines as early as 2024 and will become cheaper the following year, according to the quoted report.
For this to happen, battery prices have to drop, even if the demand for the metals used to produce this unit continues to grow, researchers said in London.
UK lawmakers have launched an investigation into the market, analyzing the necessary infrastructure and trying to determine whether to introduce the deadline until 2040 to put an end to the sale of gasoline and diesel.
With incentives, the UK could reduce the car trade deficit by 5 billion pounds ($ 7 billion), the Green Alliance reported. World Wildlife Health Fund said the gradual phasing out of diesel and gasoline could add another 14,000 jobs to the industry. In separate reports this week, both groups have asked the UK to specify the ban on oil-fueled cars by 2030.
China, the world’s largest polluter, is seeking to lead global markets in electric vehicles, with the government applying production quotas aimed at increasing sales.