A new report by the consultancy Marcone shows that electric vehicles are actually cheaper to make and sell than petrol cars, according to the report.
According to the Marcone report, electric vehicle (EV) technology is now more cost-effective than traditional internal combustion engine (ICE) vehicles.
The report states that electric vehicle production has improved from 35 per cent of total vehicle sales in 2016 to 50 per cent in 2020.
The report, titled ‘Electric Vehicles and the Road to 2025: Cost-Effectiveness in the 2035 Period’, finds that EVs are cheaper in 2020 to manufacture and sell.
Marcone’s report also found that EVs make a lot more than petrol vehicles, which are made by a number of manufacturers.
The firm says that electric cars are more cost effective to manufacture.
For example, in 2020, the average EV was produced at an average cost of $12,000, while petrol vehicles were priced at $10,500.
The cost of producing EVs has been falling since the start of the year, Marcone said.
In addition to EVs, Maronad’s report states the company has identified five key areas for EV growth:1.
The ability to meet the demand for electric vehicles as well as its adoption by local authorities.2.
The adoption of EVs by private and government sectors in developing countries.3.
The development of new, clean and efficient energy solutions for the domestic, international and global markets.4.
The implementation of clean energy infrastructure.5.
The growth of EVs to meet global and regional emissions targets.