The falling cost of batteries have made EVs much more competitive, and EVs could become cheaper than gasoline or diesel-powered vehicles between 2025 and 2029, according toBloomberg New Energy Finance (BNEF). BNEF predicts that EVs will capture than half of all new auto sales by 2040.
But government policies could accelerate this trend. The UK and France have announced a phase out of the internal combustion engine, banning their sales by 2040. China and India have alsoannounced tentative steps in that direction, which, if finalized, would totally change the game.