Envision sees cost of electric cars at parity by 2025/26

Sylvain Filippi, MD, Envision Racing, speaks to guests during the annual Reuters IMPACT summit in London, Britain October 4, 2022. REUTERS/Maja Smiejkowska

LONDON (Reuters) - The cost of making electric cars will reach parity with internal combustion cars by around 2025/26, the head of Envision Racing forecast on Tuesday, a step expected to accelerate the industry's transition to cleaner, greener vehicles.

Sylvain Filippi, managing director of Envision Racing, said it would soon become more expensive to manufacture traditional cars than their electric counterparts, given the cost of manufacturing internal combustion vehicles is increasing.