Right now a Vauxhall Corsa starts at £17k the exact same car but powered by batteries costs £26k. So will the batteries become cheap enough that the battery powered cars match the same as combustion engine car?
Long answer: on the one side, the price for combustion engined cars is going to raise, emission limits are harder to hit. Electric cars are going to get cheaper on several levels. First, batteries are getting cheaper all the time. Then, the production of electric cars is in the process of ramping up, with volume comes cost savings. Even just optimizing how batteries are being built has lots of cost saving potential. Then, the Corsa is an interesting example. It is a platform both for electric and combustion engined cars. That is not as efficient as a pure electric platform, so more cost savings here.
Finally, most car manufacturers are in the process of transitioning to electric, which costs a whole lot of money. They are trying to get these costs back by pricing them into the price of the electric cars. This is going to go down over time too.
Not to mention the EV version will give you a much better driving experience and not be unhealthy to people, specially in cities.
We are just at the start of the S curve adoption, and most cars sold are not sold for £17k but rather £30-40k. For that cost EV are already better.
Here's a interesting Tesla specific take: https://www.nerdwallet.com/article/insurance/tesla-insurance
Personally I prefer predictable slightly high costs vs random potential for exorbitantly high costs.
For all comparisons you should probably price in an estimate for the first three years of running costs, too.