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.
According to the latest analysis, the price crossing point for fuel and electric cars is now in 2022, for which we need to thank the battery of the electric car, which is not so much becoming more compact and more capacious, but is reduced in price.
According to analysts, in medium-sized cars in the US in 2015, the cost of the battery was more than 57% of the total price of the electric car, in 2019 it is already 33%, by 2025 the battery will occupy only 20% of the total cost of the electric car.
Many analysts tend to consider other factors that reduce the price of electric vehicles. First, the cost of the chassis and body of the electric vehicle will decrease slightly, while the same costs will increase slightly for vehicles with ice. Secondly, it is expected to significantly reduce the cost of electric drive, since the production of such parts in large volumes is just beginning and by 2030 the cost of engines, inverters and power electronics may be 25-30% lower than today.
The increasing compactness of the electric vehicle battery means not just a cheap car, but the conversion into electric cars of other vehicles that were not previously associated with electrification.
In this regard, the concepts of mining equipment and excavators, which were provided with an electric drive, as well as examples of electrification of ships and the development of electric aircraft in which some companies already receive quite large orders, are indicative.
