Fiat Chrysler has been apprehensive to invest heavily into EVs due to their associated costs and a lack of consumer demand – however the price of EVs could be set to match those of gasoline vehicles according to a recent Bloomberg study.
The study indicates that the total cost of EVs – that includes purchasing and running costs, will be less than those of gasoline powered cars in Europe by as early as 2025. An increase in the amount of EVs on market is to contribute towards a dip in battery costs – which is the sole culprit driving the costs of EVs up in relation to gas cars.
This trend is good news for the Chrysler Portal Concept. The EV people mover, which was first shown at CES 2017, is powered by an electric motor and a 100 kWh lithium-ion battery providing up to 150 miles of electric range. FCA may put the vehicle into production by 2020 and with EV prices in a downward spiral, the possibility of it reaching production seems highly likely. We’re also willing to bet Chrysler has now seen the light in regards to the electrification of automobiles after the positive reception of its Pacifica Hybrid and its partnership with Google’s Waymo.
Before the Pacifica Hybrid arrived, the only EV or hybrid vehicle offered by FCA was its Fiat 500E hatchback. That car was such a costly endeavour for the automaker that CEO Sergio Marchionne jokingly begged customers not to buy it as he lost over $10,000 on each one sold.