Electric cars will cost as much as conventional in 2024

Prices for lithium-ion batteries are falling and technological advances help to increase the operating range of the car while charging times are also reduced. However, from this future of electric cars still some pieces are missing. Below are some points of what must happen before electric cars understand the world.

Battery prices have fallen well, more than 50 percent, according to analysts at Bank of America Merrill Lynch. Analysts expect the cost of an electric car to reach the cost of a conventional vehicle in 2024 perhaps even earlier. Automakers are making superhuman efforts to secure raw materials such as cobalt, lithium and graphite.

Electric cars will cost

The situation also has a geopolitical dimension. Since the largest quantities of lithium are found in China and Chile, it is not excluded, as demand is on the rise, that Beijing should try to exert pressure in a way that Saudi Arabia uses oil. At the same time, the necessary cobalt comes from the Democratic Republic of the Congo, one of the most unstable parts of the world that is plagued by the war. Thus, mining companies are seeking this raw material in “quieter neighborhoods”.

One of the main problems faced by electric cars concerns the psychology of the world. Drivers are accustomed to internal combustion engines, petrol smell, engine sound as the vehicle accelerates. Electric cars have a different personality and this is something that someone has to get used to before deciding to buy an electric car.

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