LONDON – Crafting Cost Electric Car The head of Envision Racing forecast Tuesday, a move that is expected to accelerate the industry’s transition to cleaner, greener vehicles.
Sylvain Filippi, chief executive officer of Formula E’s Envision Racing, said that it will soon become more expensive to manufacture traditional cars than electric cars due to the rising cost of internal combustion vehicles.
“In 2025-2026 … you will start to see parity on the supply side, in the developed world,” Filippi said in an interview at Reuters’ IMPACT climate conference on Tuesday, adding sticker price equivalence means total cost of ownership will be lower.
“It’s time to come,” Filippi said.
“At that stage, buying an internal combustion car would be a very bad idea because the initial value of these cars would be nothing. It would turn out to be a really bad asset and I think that’s what I think. the transition will accelerate really quickly.”
Tram Sales (EV) could reach 33% globally by 2028 and 54% by 2035, as demand accelerates in most key markets, according to a study published earlier this year by the company. consulting AlixPartners.
Electric vehicles accounted for less than 8% of global sales last year and just under 10% in the first quarter of 2022.
To support that demand, automakers and suppliers are now expected to invest at least $526 billion in electric vehicles and the battery from 2022-2026, according to AlixPartners, more than double the five-year EV investment forecast of $234 billion from 2020-2024.