Six trillion is what the world has to spend for an electric car-only future

These days, electric cars can drive further and be charged faster than previously. Automakers are beginning to churn out at least one electric variant, with more than 100 battery-powered models to be available by next year. Does that mean the affordable car of the future has arrived?

Sales numbers suggest it’s getting closer. Consumers bought more than one million electric vehicles last year, an increase of almost 60% from 2016, even as global car demand turned lower. China, with an aggressive green vehicle policy, accounts for almost half of worldwide electric passenger-car sales. The average price of lithium ion batteries, which account for almost half of a car’s cost, has dropped from $599 per kilowatt-hour to $208 per kilowatt-hour over the past five years. Drivers now have almost 600,000 charging outlets globally, of which more than half are in China.

Read the full report.

Back to top