Electric Cars (Evs) May Soon Be Common; Why?

بِسۡمِ ٱللهِ ٱلرَّحۡمَـٰنِ ٱلرَّحِيمِ

In the name of ALLAH, the Most Gracious, the Most Merciful

Electric Cars May Soon Be Common; Why?

For years, electric vehicles were the privilege of the few—high-tech, high-priced symbols of the future. But that future just hit an economic reset. Across the U.S., Europe and China, a quiet revolution in pricing is underway in which the average cost of an EV is falling faster than at any point in the past decade. Industry insiders are calling it the EV price collapse—and for the first time, electric cars could soon be cheaper to buy than their gasoline counterparts.

The Perfect Storm

At the heart of the shift lies a perfect storm of three forces: the prices of raw materials like lithium and nickel have plunged by more than 60% since their 2022 peaks; Tesla has triggered a global price war with aggressive discounts; and Chinese automakers like BYD and Zeekr are flooding markets with affordable, feature-rich models. Chinese exports of “new energy vehicles,” including EVs and plug-in hybrids to regions such as Europe, jumped 100% to 222,000 units in September, according to a report in Automotive News.

The result? Automakers from Detroit to Tokyo are slashing margins and rethinking production strategies to stay in the game.

Dealers are also feeling the chill. “We’re seeing EVs that once sold at a premium now sitting longer on lots,” says the automotive site car coach reports. “Buyers are realizing they have leverage again.”

 But while the short-term shock may rattle investors, the long-term implications are profound. If EVs achieve true price parity—or even undercut gas cars—it could accelerate the global transition to electric mobility faster than government policy might.

The EV bubble isn’t bursting—it’s simply deflating into reality. And that reality could finally make electric mobility mainstream.

For consumers, cheaper EVs mean wider affordability and faster adoption. If an EV can cost less to buy—and already often costs less to operate (fuel + maintenance) than a gasoline car—then the shift from internal combustion engine to EV accelerates from niche to mainstream.

 For investors, this is both opportunistic and risky. Companies with scalable cost structures like BYD, Hyundai and Tesla stand to win in a price-sensitive environment. With low-cost local supply chains and an aggressive export push, BYD’s international volumes are soaring. Meanwhile, Tesla, able to absorb short-term hits, boasts strong brand momentum and is willing to cut prices to fight for volume.

 Established automakers like Toyota, General Motors and Honda, with limited EV scale, heavier cost bases, slower cycles and large ICE footprints, face margin compression. For example, General Motors recently took a US$1.6 billion charge to scale back EV production in response to slowing demand.

 The long-awaited moment where electric vehicles move from “nice-to-have” to “must-own” is finally arriving—powered by collapsing cost, intensifying competition and rising scale. For consumers, that means EVs may soon be cheaper to buy and operate than gasoline cars. For investors, it means winners will be the companies that can scale cheaply, innovate rapidly and control supply chains. And losers will be those trapped by existing cost structures and slow to respond. The EV surge isn’t over—it’s simply entering its affordability phase.

Written by By Peter Lyon; who is based in Tokyo and writes about the car industry; and published in Forbes on 30 October 2025 and is available on the link below an is being shared for wider audiences:-

https://www.forbes.com/sites/peterlyon/2025/10/30/why-electric-cars-may-soon-become-cheaper-than-gasoline-cars/

Electric Vehicles Can be a "Game Changer" for countries like Pakistan; because presently the country is dependent on foreign made gasoline vehicles and then imported fossil fuels to operate those vehicles. The whole transportation industry is solely dependent on imported products and are a huge burden on cash starve economy. Therefore, EVs can reduce the some portion of the burden in sort time and major items can be produced inland in few years time. The EVs reduce reliance on fossil fuels, helping conserve natural resources and help boast local production. Lower carbon emissions from EVs help combat climate change; which may reduce smog problems being faced during last few years. EVs promote sustainable urban environments by reducing air and noise pollution.

 The future of electric vehicles (EVs) is bright, marked by increasing sales, expanding model variety, and significant technological advancements. Key trends include improved battery technology, lower costs, more public charging infrastructure, and the integration of features like autonomous driving and bidirectional charging. Governments are also playing a significant role through bans on future internal combustion engine (ICE) vehicle sales, which is expected to accelerate the transition.

 Beyond market supply and demand, the future costs of raw materials for electric vehicles will be heavily influenced by geopolitical factors, government policies, technological innovations, and environmental, social, and governance (ESG) considerations.

Modern electric vehicles mainly have lithium-ion and lithium polymer batteries due to the relatively higher energy density compared to weight. The major materials required in lithium-ion batteries are the chemical components lithium, manganese, cobalt, graphite, steel, and nickel.

The future of EVs in Pakistan is promising, driven by the government's ambitious National EV Policy (NEVP) 2025–30 which targets 30% of new vehicle sales to be electric by 2030, and 90% by 2040. The government is providing incentives like subsidies for electric motorcycles and three-wheelers and plans to build 3,000 charging stations by 2030. While challenges like infrastructure gaps and high upfront costs persist, increased local manufacturing, the entry of international brands like BYD, and a growing consumer interest point toward significant growth in the coming years.