IEA – Global EV Outlook 2016
Growing EV market shares are expected to progressively reduce technology costs in the forthcoming years, thereby making EVs an increasingly attractive option. Once electric cars are produced in large volumes, the cost differences between electric cars (both BEV and PHEV) and those using improved ICEs may fall below 10% of the total vehicle cost (IEA, 2016b), making them increasingly competitive. Some analysts even suggest that electric car costs may reach those of competing ICE vehicles within a decade (BNEF, 2016a). Electric scooters, costing less than 500 United States dollars (USD) in China, are already cost-competitive today.
View PDF