Electric Vehicles Will Cost the Same As Gasoline Cars By 2025?

2024 Volvo EX90

At least this applies to Volvo cars…

People would be more willing to buy electric vehicles if they were cheaper than now or comparable in price to their gasoline counterparts. We’ve been hearing for years that electric cars will be more affordable in the course of time.

It will probably be so, but currently, we observe the price rise for cars instead, which is caused by the coronavirus pandemic, chip shortage, and increase in gasoline prices.

Nevertheless, Volvo’s boss Jim Rowan believes that electric cars will be achieving price parity with similar gas-powered vehicles as soon as by mid-decade, InsideEVs informs.

Moreover, he says automakers should not rely on governmental subsidies but develop affordable electric vehicles.

Less batteries, but more range, at less cost — we’ll get there.

In other words, Volvo does not bet on cheaper batteries but thinks out how to use fewer batteries with greater efficiency due to new technologies.

Now about the price parity. Recently Volvo unveiled the 2024 EX90 7-seater SUV (in the photo) in the all-electric guise that replaces the existing XC90.

The Volvo EX90, which is already well-equipped, starts at $80,000 and it is potentially eligible for a $7,500 tax credit that cuts the price. Deliveries should begin in early 2024. The fully-packed XC90 will cost you nearly $70K.

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