India, March 8 -- Electric vehicles could become more affordable in near future as a US-based market research analysis hints at lower production costs and cheaper battery prices. Gartner, the US-based firm, released a research that says this change will happen as quickly as 2027. The research says that electric vehicles will become cheaper to produce compared to regular petrol and diesel cars within the next three years due to various factors.

According to Gartner, the average production cost of electric vehicles in 2027 will drop faster than the cost of EV batteries which contribute nearly 40 per cent of the overall price of such vehicles. Gartner said its analysis was based on 'innovations that simplify production costs such as central...