Electric vehicles could be cheapest option soon with calls for extra space for chargers

Electric vehicles could be cheapest option soon with calls for extra space for chargers

02/25/2022

Bentley CEO reveals they're moving to electric cars

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Electric vehicle prices have already fallen dramatically in the past few years with more than one in six new cars in 2021 being an EV, highlighting their popularity. It is expected that battery electric vehicle prices are expected to meet parity with petrol or diesel cars between 2025 and 2027, although some predict it could happen sooner.

Soon after they reach parity, EVs will be cheaper than internal combustion engine vehicles, with running costs often being cheaper too.

According to New AutoMotive, pure electric and hybrid cars make up 40 percent of the new car market share as of January 2022.

Petrol vehicles still maintain a 52 percent market share of new vehicles, but this is expected to continue to reduce as more drivers look to buy zero-emission vehicles.

Many commercial fleets like taxis and company cars now use electric vehicles after the Government introduced tax breaks for EVs in 2019.

It has been predicted that many fleets tend to sell those vehicles off after two or three years, so many used EVs may hit the market.

While around two thirds of people in the UK have driveways allowing them to charge an EV at home, industry experts are calling for more investment into public charging infrastructure.

Ian Johnston, the CEO of Osprey Charging, believes the UK Government needs to address a few issues to allow for the widespread growth of chargers.

Speaking exclusively to Express.co.uk, he said: “I think what we’re seeing now is that there are examples of the right charging infrastructure in the right areas, we just need more of it.

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“No one is going to say we think we’ve got enough today.

“We’ve got to get more sites built ready for all these EVs landing, the thousands we’re registering on the first of March for example.

“The private market is so hyper-competitive. We don’t need funding, we don’t need regulation.

“We just need the hurdles that are left, which is about opening up the land, we need that to be addressed.

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