Between the next couple years zero-emission vehicles will become cheaper than those with petrol or diesel engines. Norway anticipates the e-car revolution: lower costs from 2019 and overtaking polluting cars in the following year.
The spread of electric vehicles is close to the “point of no return” thanks to the collapse of the cost of batteries that has already led to a sales boom in 2020 estimated at a 43% increase globally. According to experts the growth will be even faster in the coming years when “The continuing decline in battery costs will lead to the price of electric cars falling below those of petrol and diesel equivalent models, even without public subsidies,” said British newspaper The Guardian.
Data from the latest study published by Professor Lenton showed that in 2019 electric vehicles in Norway became – for the first time – on average 0.3% cheaper than cars with combustion engines. This led the market share of battery-powered cars to rise to 54% in 2020, compared to the not even 5% in others European countries, regardless of whether they belong to the European Union or not.
The collapse in battery prices over the past decade has been much faster than expected in the past. In 2010, a small car battery of 30 kWh costed about $30,000, much more than the total price of an equivalent car powered by fossil fuels. Today, according to a study by the Bloombeg Agency, the price of electricity of the same capacity has fallen to just over $4,000.