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Environment & Energy Report

Electric Vehicles May Challenge Gas Cars Sooner Than Expected

Dec. 19, 2018, 3:44 PM

Electric cars could cost the same as gas-burning vehicles by 2024, a year earlier than previously anticipated, because of falling battery prices, according to a new Bloomberg NEF survey.

Prices for electric-vehicle battery packs could drop below $100 per kilowatt hour by then, said James Frith, a BNEF analyst who analyzed data from across the lithium-ion battery value chain. At that price, many electric cars are expected roughly to equal gasoline-powered models—though it won’t be true for every electric car on the market.

“It’s not that all EVs are suddenly at price parity,” Frith said. “But it’s a sign the...

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