The future is looking bright for us and the environment too, as electric cars will now be cheaper to produce than fossil fuel-powered cars in just a mere six years’ time!

Essentially, cars like SUV’s that are the larger made cars will drop first in terms of price leading it to become equivalent to the price of diesel and petrol cars and this is predicted to happen around, 2026 and coming soon after that the prices of the smaller made cars are expected to drop too by around 2027!

To protect our environment and curb global warming many companies are trying to fast-track their electric car plans to meet said global warming guidelines. Specifically, in the UK, half of the country’s cars are expected to be all-electric by 2030 in efforts to meet their climate change targets.

A brand new report by BloombergNEF stated that the falling price in producing batteries is what is going to make electric cars cheaper to produce hence why it is predicted that electric cars will eventually be cheaper than a fossil fuel powered car. So, by 2030, new prices for batteries are presumed to drop by a whopping 58%.

Even though at present, electric cars are expensive they are still seeing a massive increase in sales since 2015 which had only 450,000 sales and in 2019 they saw 1.7 million of them being sold and it is only expected to increase from there to about 8.5 million electric car sales by 2025.

This is a huge step for the betterment of our environment and the future generations to come too!