Morgan Stanley: electric cars will fall in price up to $ 5,000

Morgan Stanley analyst Adam Jonas has published a report on the decline in the cost of electric vehicles: according to him, within 10 years the cost of a car with an electric power plant will drop to $ 5,000. In his report, the analyst relies on the opinions of people who are in one way or another employed in the industry – equipment manufacturers, component suppliers, and simply experts.

Wuling Hongguang MINI EV is the world’s most popular electric vehicle

In fact, the process of reducing the cost of an electric car is already underway, and the example of Tesla demonstrates it most clearly: if in 2008 an electric car (Model S) cost about $ 100,000, now such a car (albeit already Model 3) is offered for $ 37,500. Yes, in 12 years prices have decreased by only 3 times, but there was practically no competition in the market. We can say that the real producers of mass electric vehicles will begin to compete with each other (and for the consumer) only in a few years, so in the next 10 years, electric cars will become more expensive in price. Moreover, the aforementioned $ 37,500 is already less than the average cost of a new car in the United States.

In China, the Wuling Hongguang MINI EV is hitting sales records for less than $ 5,000 – now the most popular electric car in the world. You can think that soon there will be more analogues of the Wuling Hongguang MINI EV, and this will also affect the global price of an electric vehicle.

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