Electric Vehicles Tantalizingly Close to Price Parity with Gas Burners

Due to a variety of factors, the costs of producing EVs could drop drastically over the next few years, and given the competitive nature of the auto industry, automakers are likely to pass on much of the savings to buyers by lowering prices.

The main barrier to widespread EV adoption, from a car buyer’s standpoint, is a very simple one: they cost more to buy than legacy vehicles. On a total cost of ownership basis, owning an EV is often actually cheaper than owning a gas-burner, as numerous studies have demonstrated (Would you believe it can be cheaper to own a Tesla Model 3 than a Toyota Camry?), but many buyers don’t look beyond the price on the sticker at the dealership, and purchase prices for EVs still tend to be substantially higher than those of “comparable” fossil rides. However, as Christopher Mims writes in a recent Wall Street Journal article, the gap is narrowing.