Conti: EVs Won’t Make Economic Sense until 2025

Electric vehicles won’t gain an economic advantage over piston engines until 2025, when they overcome current shortcomings of high battery cost, limited range and lengthy charging times, opines Wolfgang Schaefer, Continental AG’s chief financial officer.

The changeover will come as carmakers introduce a "fireworks of new electric models" currently in development to help them meet future emission and fuel economy rules, Schaefer tells Bloomberg News.

Meanwhile, consumers are beginning to warm to electrification, Bloomberg notes. In January-March, for example, sales of electric and hybrid cars in Europe jumped 36% to 235,400 units, or 12% of the overall passenger vehicle market, according to European industry trade group ACEA

That would be good news for Conti. The company currently supplies systems for conventional powertrains worth about €750 ($816) per vehicle, but Bloomberg says that amount could surge to €3,000 ($3,300) for the components of an all-electric powertrain.