More quickly than seemed possible a few months ago, sticker prices for electric vehicles are falling closer to the point at which they could soon be on a par with gasoline cars.
Increased competition, government incentives and falling prices for lithium and other battery materials are making electric vehicles noticeably more affordable. The tipping point when electric vehicles become as cheap or cheaper than cars with internal combustion engines could arrive this year for some mass market models, and is already the case for some luxury vehicles.
Prices are likely to continue trending lower as Tesla, General Motors, Ford Motor and their battery suppliers ramp up new factories, reaping the cost savings that come from mass production. New electric vehicles from companies like Volkswagen, Nissan and Hyundai will add to competitive pressure.