By 2024, UBS confidently predicted in a October 2020 report, the cost of manufacturing an electric car would have fallen so sharply that it would be on a parity with the cost of a petrol or diesel car. If you have looked on Auto Trader recently you may well have been fooled into thinking that this has come true.
A quick search offered me a brand new Peugeot e-2008, its price slashed from £38,495 to £26,495. Or I could have a Vauxhall Mokka-e, down from £41,895 to £29,793. According to the car trading platform, 77 per cent of new electric cars on its website are being advertised at a discount – in some cases, as the above figures show, bringing them down close to the sort of price you would pay for a petrol or diesel equivalent.
Electric cars have established themselves as a premium project for well-off, environmentally-concerned motorists
But the discounts currently on offer are not really a reflection falling manufacturing prices.
Britain’s best politics newsletters
You get two free articles each week when you sign up to The Spectator’s emails.
Already a subscriber? Log in
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in