ING: Electric cars will be in price in 2023
According to Dutch ING, already in 2023, a Volkswagen Golf with an internal combustion engine and an electric e-Golf with a 35,8 kWh battery will cost the same.... The price includes additional fees for carbon dioxide emissions, which are likely to take effect as early as 2021, as well as new emission standards.
Electric cars will only get cheaper
Table of contents
- Electric cars will only get cheaper
- Electric vehicles are…bad news for Europe
The conclusions were based on declining global battery prices and were calculated for the Volkswagen Golf segment. At the same time, ING experts argue that the larger the car's battery, the faster its price will fall. Electric cars are much simpler in design, they have 5-6 times fewer parts than internal combustion cars, and their only big cost is the battery.
Electric vehicles are…bad news for Europe
At the same time, ING warns that such a market change could cause an economic collapse in Europe. European companies specialize in the production of internal combustion engines and gearboxes - currently 90 companies on our continent produce them. Meanwhile, the whole process of research and production of electric cells takes place in the Far East:
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The combustion engine and gearboxes are also much more complex. According to ING, the worker is capable of producing 350 engines or 350 transmissions per year. For comparison the same worker can produce 1 electric motors per year.
However, in electric vehicles, batteries are a big unknown, because data is simply transferred here. However, due to the large number of toxic elements, battery handling is much more automated. Therefore, the entire manufacturing process is not expected to scale poorly.
Conclusions? It will be cheaper, but our focus on the automotive and mechanical industries can cost us dearly.
Worth Reading: ING Report
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