The age of electric vehicles may arrive much before than expected

FRANKFURT: an electrical Volkswagen ID.3 for an equivalent price as a Golf. A Tesla Model 3 that costs the maximum amount as a BMW 3 Series. A Renault Zoe electric subcompact whose monthly lease payment might equal a pleasant dinner for 2 in Paris.

As car sales collapsed in Europe due to the pandemic, one category grew rapidly: electric vehicles. One reason is that purchase prices in Europe are coming tantalizingly on the brink of the costs for cars with gasoline or diesel engines.

At the instant, this near parity is feasible only with government subsidies that, counting on the country, can cut quite $10,000 from the ultimate price. Carmakers are offering deals on electric cars to satisfy stricter European Union regulations on CO2 emissions. In Germany, an electrical Renault Zoe is often leased for 139 euros a month, or $164.

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