Volvo's CEO, Jim Rowal, has ventured to put a deadline on one of the industry's most anticipated events: the day when electric and thermal vehicles are priced similarly. Rowal predicted that price parity will be attained across all brands in three years. This will only happen once, and there is no set date on which it will start happening.
It is self-evident that prices must fall if we see widespread adoption of electric vehicles in Europe and the rest of the world. Designers, executives, and consumers have been mulling over the possibility of reduced costs for quite some time, but concrete evidence of this has yet to emerge. That plan is in jeopardy due to the precarious state of the global economy. Everyone's costs are rising, not helping with sales and manufacturing expenses.