in Washington are less forceful than some environmentalists would have liked, they should still have a powerful effect on the kinds of cars appearing in showrooms over the next several years, experts say.
Despite talk of a slowdown, sales of electric vehicles are growing much faster than sales of vehicles that run on fossil fuels. Prices of electric vehicles have dropped significantly and are likely to fall further as car makers get better at making them and the cost of batteries and raw materials plummets.
Within a few years, electric cars that can drive more than 480 kilometres on a charge are likely to cost less than petrol vehicles even before accounting for fuel savings. Electricity is usually much cheaper than petrol. That will give more car buyers strong economic reasons to go electric.The average price of a new electric vehicle has fallen substantially. It was $US52,314 in February, according to Kelley Blue Book, still about $US5000 more than the average for all vehicles.
During the early years of the EPA rules announced on Wednesday, car makers will face somewhat less pressure to cut emissions than under an earlier agency proposal.The EPA doesn’t dictate to car makers how they meet the standards. They can also reduce emissions by improving the efficiency of petrol engines or by selling more hybrid cars that augment petrol engines with batteries and electric motors.
Longer term, most car makers acknowledge that they need to sell appealing electric vehicles to survive.
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Source: FinancialReview - 🏆 2. / 90 Read more »