India to Be Competitive on Electric Cars Prices by 2023
Nov. 10, 2019To put that into perspective, that is almost seven years ahead of the expected price adoption margin of the US. This phenomenon is happening due to all those e-scooters and e-rickshaws that you see across the country. In the US, EVs are mainly focused on cars and trucks.
Other reasons for this to happen are the decreasing costs of batteries and the improvements in their overall efficiency.“We can now say with confidence that the age of affordable battery technology is coming, and it’s happening faster than anyone expected,”said Madeline Tyson, senior associate at RMI and lead author of the report.
On the other side, these improvements and the transition towards electric vehicles will adversely affect traditional fossil fuel vehicles and fossil fuels in general.“Falling battery costs will change the economics of wholesale power markets, potentially stranding investments in new natural gas-fired power generation plants across the globe, even in cold climates”.
So, what do you think of these findings? Are you ready to move to the electric side of transport and mobility? Let us know in the comments.
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