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Thursday, March 3, 2016

Electric Cars Will Rule the Road by 2022, Say Experts

BOLD RIDE

Copyright © 2016 Bold Ride LLC.
 
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Yes, you can buy an electric car right this second if you want one, but there are good reasons to wait. They’re expensive, have short ranges, and there aren’t many options. Electric cars are coming, however, and 2022 looks to be the year they take over the world.
 
According to Wired, research firm Bloomberg New Energy Finance says 2022 is the year when all the pieces are expected to fall into place. It will take six years for electrics to finally come in to their own, making gas cars the less appealing choice.



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One of the keys to this electric car surge is pricing, which will fall as battery packs become cheaper. Those batteries account for a huge portion of an electric vehicle’s cost, but continued research and development will bring production prices down so the cars themselves will be more affordable.
 
The report assumes a few factors that aren’t really solid, so 2022 might not be a sure thing. The cost of gas was estimated at between $50 and $70 a barrel, rather than where it sits now at $32 per barrel.

 It also assumes government subsidies continue and that the charging infrastructure continues to grow. If those assumptions are false, then expect the reign of electric cars to move who knows how far into the future.



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