The European Union voted Wednesday to support a proposed ban on the sale of new gas-powered cars by 2035. The aggressive step to combat climate change would allow the E.U. to reach its goal of cutting vehicle emissions by 100%. The vote in Strasbourg, France, also moves forward a key E.U. initiative to reduce all planet-warming emissions by 55% by 2030, according to NBC News. Is it possible to reduce CO2 emissions from new passenger and light commercial vehicles by 100% in just 13 years? After all, that would make it impossible to sell fossil fuel-powered vehicles in Europe.
It’s actually quite feasible, according to Robert Triest, chair and professor of economics at Northeastern. “Electric vehicle technology is there,” he said. “Electric vehicle costs are falling fairly rapidly. And so by 2035 electric vehicles will likely be cheaper than internal combustion engine vehicles even without the subsidies.”
Although the cost to produce an electric vehicle is expected to surge by 22% in the next four years, bringing the cost up to $138 per kilowatt-hour, it’s predicted to steadily decline to as low as $90 per kilowatt-hour through 2031, according to CNBC News.
