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Govt subsidies, falling battery prices to make EVs more accessible
The Business Guardian
|October 06, 2024
Government subsidies and declining battery prices are making electric vehicles (EVs) more accessible even though they still have higher upfront costs than conventional internal combustion engine (ICE) vehicles, Axis Securities said in an analysis.
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"EVs have higher upfront costs than ICE vehicles but are becoming more affordable with subsidies and falling battery prices. Lower running costs over time make EVs more economical in the long run," the report added.
According to the analysis, although the initial cost of an EV may be higher, over time, the lower operational costs (such as lower electricity prices and less maintenance expenditures) make them more cost-effective.
Dit verhaal komt uit de October 06, 2024-editie van The Business Guardian.
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