On Monday, Electric vehicles will be cheaper to build than fossil fuel vehicles across Europe within six years and could represent 100 per cent of new sales by 2035, according to a study published.
Carmakers are shifting en masse to electric and hybrid models in order to bring average fleet emissions under a European Union limit of 95 grams of carbon dioxide per kilometre, or face heavy penalties.
The study by Bloomberg New Energy Finance found that electric sedans and sport-utility vehicles will be as cheap to make as combustion vehicles from 2026.
Small cars will have to wait until 2027 to match the cost of fossil fuel models, according the study, which was commissioned by Transport and Environment, a European clean transport campaign group.
Light electric vans will be less expensive than diesel models from 2025, and heavy electric vans from 2026.
“EVs will be a reality for all new buyers within six years,” Julia Poliscanova, senior director for vehicles and e-mobility at Transport and Environment, said in a statement.
“They will be cheaper than combustion engines for everyone, from the man with a van in Berlin to the family living in the Romanian countryside,” Poliscanova said.