Electric cars may be cheaper than gas by 2030

According to reports by Bloomberg New Energy Finance, electric cars will become cheaper than internal combustion ones by 2030.

This is expected to be down to an increase in the number of battery factories, which will boost production capacity.

For example, Daimler subsidiary Deutsche Accumotive announced a new battery factory in Kamenz, Germany, to supply batteries for future Daimler electric cars.

Nine new battery factories are also under construction in China, which is also set to introduce stricter fuel-economy standards that could encourage more automakers to go electric.

Bloomberg’s analysts have already said that the 2020s could be the decade in which electric cars take off—and one has stated that by 2030, electric cars could be cheaper than those powered by internal combustion.