While definitely not the case in the US, electric vehicles have reached a significant milestone in the UK, with new data showing they are now, on average, cheaper to buy than gas-powered cars for the first time.According to analysis from Autotrader Group, the largest online car shopping platform in the UK, the average price of a new EV listed on its site has fallen to roughly $57,800 (£42,620), compared to $58,850 (£43,405) for a comparable gasoline-engine model. The group says the difference is largely thanks to a mix of manufacturer discounts, government incentives, and the natural result of intensifying competition in the EV space.As is the case in the states, car shoppers in the UK have reported the higher upfront costs as one of the biggest hurdles preventing them from switching to EVs, even as lower running costs make them the lower-cost choice over time. In the United States, the new-car sticker on an electric vehicle averages roughly 15 percent more than a conventional internal-combustion-powered vehicle, but fuel costs run less than half and maintenance is about a third less expensive on an EV.“The electric car market is becoming increasingly competitive, and despite the challenges created by the ZEV mandate, manufacturers and retailers have worked hard to improve both the supply and affordability of new electric vehicles,” said Bex Kennett, performance director at Autotrader.Rise In Use Of Electric Vehicles In The UKThe group notes that several factors are contributing to the price shift. The UK rolled out a new EV grant last year, which knocks about $5,080 (£3,750) off the price of eligible models. At the same time, automakers have been under pressure to meet zero-emission vehicle (ZEV) targets, leading to aggressive discounting in an effort to boost EV sales.Competition has also intensified, particularly with the arrival of lower-cost electric models from Chinese manufacturers, which have helped push prices downward across the market.The result is a more favorable EV landscape for buyers. Battery-electric vehicles accounted for 22% of new car sales in the first quarter of the year, according to industry data.Rising fuel prices have also helped to drive renewed interest in electric cars, with consumers increasingly focused on reducing long-term energy costs. The same pressures have been responsible for a rise in used EV sales in the states, while March saw the most EV sales since the expiration of federal tax credits last September.