Could plummeting battery costs deliver mass market EVs as soon as 2024?

Michael Holder
clock • 5 min read
Plummeting battery costs could lead to EVs reaching cost-parity with petrol and diesel cars within three years | Credit: Tesla
Image:

Plummeting battery costs could lead to EVs reaching cost-parity with petrol and diesel cars within three years | Credit: Tesla

Electric vehicles could reach cost-parity with petrol and diesel cars within three years, but immediate commodity supply risks pose challenges, according to latest BNEF report

Electric vehicles (EVs) could be on track to reach cost-parity with fossil fuel cars within three years thanks to rapid strides in battery development worldwide, which have seen the average cost of lithium...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Automotive

'The direction of travel is unmistakable': EVs account for over a quarter of new car sales

'The direction of travel is unmistakable': EVs account for over a quarter of new car sales

Battery electric vehicles made up 26 per cent of all new car registrations in October, while plug-in hybrids' market share grew to 12 per cent

Stuart Stone
clock 05 November 2025 • 4 min read
'Largest ever': Amazon's latest electric truck order hits the roads

'Largest ever': Amazon's latest electric truck order hits the roads

Arrival of new trucks hailed as 'major milestone' for Amazon’s efforts to decarbonise its UK transportation network

clock 04 November 2025 • 3 min read
Government unveils £10m funding pot for off-grid EV charging innovations

Government unveils £10m funding pot for off-grid EV charging innovations

Department for Transport and Innovate UK look to fund innovations that would enable EV chargers to be installed on motorways without needing grid connections

Michael Holder
clock 03 November 2025 • 2 min read