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Electric vehicle prices in Europe to drop; EU companies to ‘pace China’

Dublin: Steps are underway to manufacture and sell electric vehicles in Europe at low prices. Carmakers are hinting that small electric cars made in Europe could sell for €25,000.

This could completely change the motor industry in the EU, according to an analysis by a leading environmental NGO.

According to a Transport & Environment (T&E) study, as production costs and battery prices fall, more vehicles will switch to electric vehicles known as mass-market B-segment vehicles’ by 2025.

European automakers believe that the availability of small and affordable ‘EVs’ will be a game changer for the widespread adoption of electric vehicles. Currently, Chinese companies are challenging electric vehicles in Europe. According to the study, the introduction of low-cost electric vehicles manufactured in Europe will prevent this.

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