New energy vehicle industrySmart car

The price of electric vehicles may drop to one tenth From Morgan Stanley

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Morgan Stanley analysts predict that the price of electric vehicles will continue to decline for at least the next decade, and may eventually drop to $3000 to $5000, a tenth of the current price. They believe that the sharp drop in the price of electric vehicles will eventually make fuel vehicles completely obsolete.

“Based on our frequent discussions with OEMs, suppliers and experts in the field of electric vehicles, we would not be surprised if the price of many electric vehicles eventually fell below $5000,” Morgan Stanley analysts led by Adam Jonas said in a report on Monday

Over the past decade or so, the cost of electric vehicles has fallen significantly as batteries have become cheaper and production scale has expanded. Tesla’s first electric car was the roadster sports car launched in 2008, which started at around $100000. Today, its model 3 low profile version costs $37490, lower than the average price of new cars in the United States.

At present, some ultra-low price electric vehicles are sold outside the United States. For example, the Hongguang Mini of GM Wuling sells for about $4500, while the AMI mini electric car sold by French car manufacturer Citroen in Europe sells for about $6600.

Morgan Stanley expects the price of electric vehicles to continue to fall over the next 10 years, at least, as automakers achieve higher production, simplify production processes and improve car design. The number of parts needed for electric vehicles could eventually be reduced from about 10000 to 100 or less, they said.

“We believe that in the near future, the purchase and maintenance costs of internal combustion engine vehicles may be so high that it is difficult to justify its continued role in the mobile ecosystem,” Morgan Stanley analysts said

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