Electric cars will cost the same to make as conventional cars, with internal combustion engines, by 2024 and an acceleration in the shift away from fossil fuel vehicles may be imminent, according to new research.
The extra cost of manufacturing battery electric cars versus their fossil fuel equivalents will diminish to just $1,900 (£1,470) per car by 2022, and disappear completely by 2024, according to research by the investment bank UBS. The research is based on detailed analysis of batteries from the seven largest manufacturers.
The results of this research could not have come sooner. Affordability is a key factor in migrating to mass-scale zero-emission electric driving. The EV industry has already achieved significant milestones in making electric cars accessible to a larger audience. However, achieving cost parity with conventional cars by 2022, will give the adoption of green cars a significant boost.
A good example of the affordability is the all-electric Renault Zoe. You can lease this EV via e-zoomed for £213.99 +VAT per month!
To a large extent, pure electric cars are already well positioned in relation to petrol or diesel cars in regards to life-cycle costs i.e. total cost of ownership. EVs are far cheaper to drive per mile than internal combustion engine (ICE) cars. You can recharge a electric car battery for £5, while filling a full tank of fuel can set you back up to £100.
For battery-electric vehicles (BEVs), the major contributor to production costs is the battery. At an average, up to 60% of production costs are related to the EV battery. OEMs determination to reduce the cost of battery production will have a significant positive impact on reducing total product cost i.e. cheaper retail prices for the end consumer.
With BEV production costs forecast to achieve parity within the decade, we encourage the UK government to bring forward the ban on internal combustion cars.
Japanese automotive giant Honda Motor Company has quietly moved to end sales of diesel vehicles in the UK and will phase out all traditional petrol and diesel versions of its mainstream models by 2022.
Various reports have confirmed that Honda has quietly removed its last diesel-powered model, the diesel variant of the HR-V, from sale, and according to The Times the last vehicles will be out of dealerships within a few weeks.
It is not surprising to learn about Honda Motor Company re-assessing its product portfolio for the UK market. The proposed ban of petrol and diesel cars has been headline news for sometime, and it is clear that the UK government will proceed with the ban. The only ambiguity is the date the ban will come into effect.
Proponents of clean air, climate change and zero tailpipe emission electric driving are keen to see the ban move forward to 2035, with some even calling for the ban to commence from 2032. This summer the UK government completed its consultation process on the proposed ban of the sale of new petrol and diesel cars and we are now awaiting further update.
We at e-zoomed expect many more automotive manufacturers to follow Honda and revise their product marketing plans for the UK, with a core focus on plug-in electric vehicles (PHEVs) and battery-electric vehicles (BEVs), for both passenger cars and vans.
The first half of 2020 has been a period like no other for the bike and electric bike business. Courtesy of the Bicycle Association, CI.N digs into the back story of how the shortage in stock supply came to be and what the industry is now doing to catch up.
The juggling act that is forecasting stock accurately is perhaps the market’s greatest challenge, especially so when it comes to bike imports. Inescapably, bike boxes are cumbersome, sometimes difficult to ship and incredibly resource intensive when stacked on the shelves of either a distributor or in a bike shop’s storeroom. Accuracy, throughout the chain, is of paramount importance; the sell through goals, spend capacity and storage capabilities throw up significant variables and often can cause friction when miscalculations occur.
2020 has been an unprecedented year for all forms of mobility, with some segments gaining significantly. The electric bike or e-bike product category has benefitted significantly from the ongoing pandemic, as individuals find new ways to commute, which are safe and easy. Public transportation is not the flavour of the year, and may remain this way for sometime to come.
But this trend towards ‘active travel‘ or ‘active mobility‘ is not, in our view, a short-term trend. We are witnessing a fundamental shift in consumer behaviour and choices, in particular, in relation to health and environment. In our view the current accelerated trend towards pedal-assisted electric bikes is a paradigm shift, and we envision e-bikes and electric scooters to continue to play a core role in the mobility choices of individuals and households.
No doubt, 2020 witnessed significant supply shortages across the value chain, due to the sudden shift in the demand curve. Though many retailers and suppliers have worked hard in improving inventory levels, the shortage between supply and demand, has only increased as we have progressed with 2020.
We expect to see some improvements in supply chain management in 2021, but supply chain bottlenecks will continue to remain for sometime to come.
We at e-zoomed are more than happy to assist you buying your Next Green Car and with all your EV needs, to include:
- Compare and buy your next green car
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- Compare and buy best electric car insurance deals in the UK
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- Compare and buy green electricity for your home and electric vehicle
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- Compare and buy best e-scooters!
- Compare and buy electric kick scooters
- Compare and buy an e-bike