03 February, 2019

Ownership of electric vehicles to match petrol and diesel cars by 2022, report claims

The cost of owning an electric vehicle in the UK will equal that of a petrol or diesel vehicle by 2022, a new report claims.

The analysis, which has been published by professional services network Deloitte, also foresees EVs grabbing ten per cent of the total market by 2024.

Mike Woodward, North West Europe automotive leader at Deloitte, said: “Automotive original equipment manufacturers are pursuing electric strategies with varying degrees of success.

“With competition fierce among themselves, the incumbent OEMs now face growing competition from lesser known Chinese OEMs and a staggering number of new entrants, including a mixture of startups, established tech companies and even brands from other industries.

“It is our belief that as competition in the EV market grows, an expectation gap is emerging between manufacturer capacity projections and demand from customers.

See the full story at GarageWire : http://garagewire.co.uk/news/ownership-of-electric-vehicles-to-match-petrol-and-diesel-cars-by-2022-report-claims/