There is little doubt that electric cars will grow in popularity as their driving ranges increase significantly and their prices start to plummet.
Tesla is the first company to demonstrate that an electric car can be good-looking, powerful and practical. Since then, many new car manufacturers emerged to challenge Tesla. Will they succeed?
It will take between 5 to 10 years for the prices of electric cars to drop to the same level as those of regular cars. Once mass production starts and the market is inundated with electric cars, they will become like TV, always better but cheaper. Chinese manufacturers like LeEco, if successful in producing a quality car, would definitely drive the prices down. Even Tesla has decided to manufacture in China to cut costs down and to penetrate the enormous market there.
Are we willing to wait for a few more years?