Richard Branson: ’15 years from now, every car on the road will be electric’

Getting rid of fossil fuel cars is not a fantasy anymore. Speaking to CNN at a formula E event Virgin Boss Richard Branson said, “Fifteen years from now, I suspect every car on the road will be electric.”

 The FIA Formula E is an auto racing championship which uses only electric-powered cars. The championship was introduced in 2014 to help improve electric vehicle technology .

Richard further said, “What we’re doing with these race cars is pushing the technology forward so that road cars one day will be able to go hundreds of miles without having to recharge their batteries.

According to NRDC, Electric vehicle (EV) sales grew 60 percent worldwide in 2015 . Further reports from Bloomberg also suggest that battery prices got reduced by 35 percent last year.

Bloomberg reports that by 2022, electric vehicles will cost the same as fossil fuel cars.