Is PNG convert to WEBP lossless ? Same quality and lower size ?

Is WEBP image format lossless ? When I convert PNG to WEBP, will the image have the same quality and lower file size ?

Hi,

WEBP image format supports both lossy and lossless compression. When using a lossless compression, the file size can be around 25% smaller, while providing the same quality.

Please note that both PNG and WEBP images formats allow to use a various levels of quality. There are also a multiple types of PNG files available. For example PNG 8, PNG 24 etc.