06 June 2017
The cost of owning an EV will fall to the same level as owning a conventional petrol or diesel vehicle by 2018, according to a new report.
The study by UBS predicts that electric cars will reach total cost of ownership (TCO) parity with conventional cars next year. 39 analysts from UBS took a Chevrolet Bolt range-extended EV to pieces to fully understand the costs of the components. They found that it was much cheaper to produce than they thought; and therefore EVs will reach TCO parity much sooner than expected.
The UBS Evidence Labs study states: “We are more convinced than ever that electric cars are about to reach the tipping point in the penetration curve in the next few years. This new generation of electric cars has far-reaching implications for the global autos industry.”