Electric vehicles (EVs) could become cheaper to buy than diesel cars in six years.
A new BloombergNEF study, commissioned by campaign group Transport & Environment (T&E), predicts electric sedans and SUVs will be as cheap to produce as petrol vehicles from 2026, while small cars (B segment) could follow in 2027.
Falling production costs could make EVs cheaper to buy, on average, the report suggests.
The analysis also stresses battery electric cars and vans could reach 100% of new sales by 2035 if policymakers put forward measures like tighter vehicle carbon targets and built a stronger charging infrastructure.
Julia Poliscanova, Senior Director for Vehicles and Emobility at T&E, said: “EVs will be a reality for all new buyers within six years. They will be cheaper than combustion engines for everyone, from the man with a van in Berlin to the family living in the Romanian countryside.
“EVs are not only better for the climate and Europe’s industrial leadership, but for the economy too.”