The EV Revolution Is Happening Faster Than Expected

Electric prices converging with Petrol and Diesel

In 2025, the fully electric (BEV) versions of most vehicle models will be cheaper than the fossil fuel vehicle (FFV) versions. We see now the first examples of this development with the Peugeot 208 and e-208, the MG ZS and MG ZS EV (only for sale in the UK), and the 800 pound gorilla in the room, the VW ID.3 and VW Golf. In 2020, the electric versions have higher list prices but lower TCO (total cost of ownership) if you are a frequent driver. However, BEV list prices are declining and FFV driving costs are rising.  So, the question that is arriving is: how long will people pay a premium for an inferior product?

Full article at CleanTechnica

Standard innovation lifecyle

Everett Rogers Technology Adoption Lifecycle Model. (CC BY 2.5 license)

Everett Rogers Technology Adoption Lifecycle Model. (CC BY 2.5 license)

In Europe, we see early majority buyers in a number of market segments. Late majority buyers will appear in 2022, and laggards will start buying BEVs in 2023. Not in all market segments, but in enough to have an influence.

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