For many years, automotive analysts have predicted that electric vehicles will be cheaper than their fuel-powered counterparts. They believed this would happen in the latter half of the 2020s. For example, BloombergNEF once estimated that this would occur in 2026.

Their judgment is not considered outrageous.

In the past few years, the price of electric vehicles has dropped significantly. However, since not every electric vehicle has a corresponding fuel-powered model, it has always been difficult to make price comparisons.

BMW has provided such a comparison sample. The 2027 BMW 3 Series is available in both fuel-powered and electric versions, with the electric version being $4,400 cheaper.

The price of the fuel-powered version M350 xDrive is $65,900, while the price of the electric version i3 xDrive is $61,500. Both prices do not include shipping costs. The two models have similar power levels, similar exterior designs, and target similar customer groups. The difference is that the electric version is 6.7% cheaper.

Picky individuals will point out that there is a significantly cheaper configuration of the fuel-powered 3 Series model, but currently, there is no corresponding electric version available. The 2027 BMW 330 is priced at $49,900, while its upgraded xDrive version costs $51,900.

These two comparable models are built on different platforms; the electric version i3 benefits from BMW's latest chassis and technology. The fuel-powered 3 Series, on the other hand, has undergone significant modifications based on the existing platform.

For most people, the biggest difference will be the charging or refueling experience, but even in this regard, they are closer than some people imagine.

The range of the new fuel-powered 3 Series is roughly similar to that of its predecessor; with the four-wheel-drive version, each tank of fuel can cover approximately 450 miles. The electric i3 can travel 468 miles on a full charge. BMW claims that the car's fast charging capability allows for an increase in range of 208 miles within just 10 minutes. For a very small number of long-distance drivers, this difference may be significant, but for most drivers, it is merely a theoretical issue.

The generally accepted view has always been that electric vehicles have higher upfront costs, although their total cost of ownership is lower. However, now electric vehicles are also beginning to gain an advantage in terms of purchase price.