Electric cars are coming of age in the United States and Europe, and the technology could soon be as affordable as a gas-powered car, according to experts.
Electric vehicles have become the darling of tech enthusiasts and car enthusiasts around the world, thanks to their low prices, ease of installation, and range.
While electric cars are not cheap, they’re certainly cheaper than gasoline-powered cars.
That’s according to researchers at the Massachusetts Institute of Technology, who analyzed data from the National Highway Traffic Safety Administration and the National Electric Vehicle Association to determine that electric cars would be cheaper than the average gas-based car by 2040.
By 2035 the average electric car would be roughly $5,000 cheaper than a gas car, with the price difference being even greater if the car uses a hydrogen fuel cell system, according the report.
Even if a car was made entirely from carbon-free materials, the researchers estimate that electric vehicles would still cost about $2,400 per mile less than gasoline vehicles.
But while electric cars could potentially save money, the technology has limitations that will make them difficult to scale up.
For starters, they have a limited range.
Electric cars must travel much longer distances to recharge, which means they’ll have to be plugged in for a long time.
As a result, electric cars will have a long battery life, which makes it difficult to charge a car without the need for charging infrastructure.
Additionally, electric vehicles will have higher emissions, and many carmakers are looking to limit emissions.
Furthermore, many countries are banning the use of lithium-ion batteries, which have higher energy density, which can make electric vehicles more expensive to produce.
Finally, while electric vehicles have been designed for a limited number of roads, they still need a lot of infrastructure to make sure they work smoothly.
“Electric vehicles can only go so far without a proper infrastructure,” said David McAfee, an engineer at the Institute of Electrical and Electronics Engineers who was not involved in the research.
This makes them difficult for a mass market like electric cars, which is what the automakers hope will happen with mass-market electric vehicles.