" The advanced transport team at Bloomberg New Energy Finance is constantly analyzing the price of electric cars to see when they will be price competitive with conventional cars. In 2017, the team suggested it would happen in 2026 — under a decade away at that time — and everyone went “Wow! The time for electric cars is almost here.” A year after that, BNEF said 2024 would be the year.Now another year has gone by and BNEF has adjusted its forecast once again. 2022 is now the year it believes electric cars will become price competitive with cars powered by gasoline or diesel engines.Why the rapid shortening of the projected timeline? Plunging battery costs. For a midsize US car in 2015, the battery made up more than 57% of the total cost. This year, it’s 33%. By 2025, the battery will be only 20% of total vehicle cost, according to BNEF. "
