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

'Every reason for drivers to make the switch': EV sales soar again to secure 26 per cent market share

'Every reason for drivers to make the switch': EV sales soar again to secure 26 per cent market share

Industry confirms demand for electric vehicles rose 14 per cent year-on-year in August, once again providing the main bright spot for the UK's auto market

James Murray
clock 04 September 2025 • 4 min read
Electric Car Grant: First Toyota and Skoda models join £650m grant scheme

Electric Car Grant: First Toyota and Skoda models join £650m grant scheme

Seven more electric models added to list of cars eligible for government grants, as discounts confirmed for more than 30 EVs inside seven weeks

Stuart Stone
clock 02 September 2025 • 3 min read
Eaton and ChargePoint power up 'breakthrough' electric vehicle charger

Eaton and ChargePoint power up 'breakthrough' electric vehicle charger

Companies claim new charger will 'accelerate the future of EV charging' and 'significantly reduce costs for drivers

clock 28 August 2025 • 3 min read