Electric cars could reach cost parity with conventional cars by next year

June 5, 2017 by  
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Are you eager to get your hands on a new electric vehicle,  but the price is too steep? You’re in luck – electric cars will likely reach cost parity with vehicles that have internal combustion engines by next year, and electric vehicles could be cheaper that gas by as soon as 2025, according to a new report by USB . The report makes it clear that while electric vehicles will still cost more than ICE cars, owning a new EV will be comparable to owning a gas or diesel car in the long-term. Analysts took into consideration the fuel costs, maintenance costs and other related expenditures related to owning all vehicles and used the information to determine that over time, the cost of owning a green vehicle is comparable to owning a conventional one. As Green Car Reports  reports , it is becoming more affordable to own an EV due to breakthroughs in battery capacity, charge times and a growing demand for environmentally-friendly technology. Part of the analysis required UBS to break down a $37,000 Chevrolet Bolt in order to estimate how much the vehicle cost to build. It was discovered that “the EV powertrain is $4,600 cheaper to produce than we thought and there is more cost reduction potential left.” Analysts continued that the 238-mile range Bolt costs around $28,700 to build and that GM is only expected to produce 30,000 Bolts in 2018. Therefore, there won’t be a huge incentive for it to be profitable. Related: UK solar smashes record, supplying 25% of electricity demand On the other hand, the Tesla Model 3 is expected to be produced in numbers as high as 500,000 by 2018. When extras are added on to the base price of the Model 3 at $35,000, the company is expected to break even. UBS declared that electric vehicles are the “most disruptive car category since the Model T Ford” and that though total sales for electric cars is still relatively small, global EV sales will reach 14% by 2025 (4.2 million vehicles). Europe is expected to take the lead in this department, selling 30% of the world’s electric cars within eight years. Now that EVs will soon cost the same to own as a car or truck with an ICE, a massive shift is expected to take place within the auto industry . + UBS Via  Green Car Reports

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Electric cars could reach cost parity with conventional cars by next year

Watch Toyota’s flying car take its first test flight

June 5, 2017 by  
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Have you ever wanted to ride in a flying car? In just a few years, you might soon be able to! Several companies are working on developing this technology, and Toyota-backed Cartivator recently made progress on this goal by taking its flying car for a tentative test flight. Though the vehicle still needs a lot of work, the Japanese-based startup company is certain the car will be ready to fly in time for the 2020 Olympic Games in Tokyo. The test flight can be seen in the Associated Press video below. Because the early prototype of the car is little more than structural scaffolding, batteries, and rotors, it doesn’t look like much. However, it is able to get about head height before returning to the ground. Unfortunately, the trial had to be called off after the propellers were damaged several attempts later. CNet reports that Cartivator Resource Management, a small tech company, received nearly $400,000 in investment from Toyota to bring the flying car concept to life. This isn’t the only futuristic technology Toyota is seeking to develop. After ending a partnership with Tesla , the company seeks to become a global leader in electric automobiles. When the Toyota-backed vehicle is completed, it should be able to take off from public roads and travel at speeds up to 100 kmph (62 mph) when flown at approximately 10 meters. At present, the team’s goal is to complete the flying car by the 2020 Olympic games in Tokyo so it can light the flame. Related: Uber inks deal to demonstrate on-demand flying taxis at the 2020 World Expo in Dubai The race is on to develop the first functional flying car . Airbus announced plans to test autonomous flying vehicles by the end of 2017 and Uber is collaborating with Singapore’s Ministry of Transport to develop flying taxis as an attempt to ease congestion on urban roads. + Cartivator Via CNet Images via Cartivator

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Watch Toyota’s flying car take its first test flight

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