Erik Fairbairn's response to MPs "poisonous air" warning...
Posted by Emma: Mar 15, 2018 • 2 min read
"MPs warn of 'poisonous air' emergency costing £20bn a year" - Is one of the main headlines from the BBC this morning. We asked our CEO and Founder Erik Fairbarin to share his thoughts on the news.
You can read the full BBC article here. Erik's thoughts below:
"The sooner that petrol and diesel cars are phased out, the better it will be for the planet and our health. But market forces will play the biggest role in making this happen, rather than Government intervention.
The key barriers that have delayed the transition to electric vehicles (EVs) – price, range, access to charging and battery life – are disappearing. The price of battery packs - by far the most expensive component of an EV - is in freefall, from $1,000/kWh in 2010 to $209/kWh in 2017, while technology advances have significantly increased lifespans.
Price parity (based on total cost of ownership over a three-year lease) has already been achieved. By the early 2020s, with the cost of battery packs continuing to fall, it will be cheaper to own and maintain an EV than a petrol or diesel vehicle.
The issue of range will be resolved as early as this year, with a number of 200+ mile mid-market EVs set to launch, including the headline grabbing Tesla Model 3, the Jaguar I-Pace and the Audi e-tron. All these factors will play a role in sending the industry into hypergrowth. By 2025 there will be no reason to opt for a petrol or diesel vehicle over an EV."