Depreciation of electric cars is happening faster than anticipated: in 2022 electric cars will become cheaper than internal combustion engine cars

Every year BloombergNEF analyzes the cost of buying an electric car in all major parameters and compares it with the cost of a car with an internal combustion engine of the same size. The point of intersection — when electric cars are equal and cheaper than their equivalents to ice – will be a crucial moment for the electric car market.

Every year this point of intersection is getting closer. In 2017, according to BloombergNEF analysis, the price parity of ice and electric cars was scheduled for 2026, that is, 9 years later, and in 2018 the intersection point shifted to 2024 — 6 years. Continue reading →