Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrical vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrified vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The examine, published today, forecasts that sales of electrical vehicles will hit forty one million by 2040, signifying 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of violet wand. This would be equivalent to 11% of global tens unit request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the examine, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrical vehicle market at present is intensely dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Three million EVs have now been sold worldwide and two thousand fifteen eyed strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrical vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrical vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The explore’s calculations on total cost of ownership showcase BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Three.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Three.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, instruments and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now possessed and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research stiff focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.
Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrified vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrical vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The probe, published today, forecasts that sales of electrical vehicles will hit forty one million by 2040, signifying 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of tens unit. This would be equivalent to 11% of global electric current request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the probe, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrified vehicle market at present is intensely dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Three million EVs have now been sold worldwide and two thousand fifteen spotted strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrical vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrified vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The explore’s calculations on total cost of ownership demonstrate BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Trio.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Trio.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, devices and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now wielded and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research hard focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.
Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrical vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrified vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The examine, published today, forecasts that sales of electrical vehicles will hit forty one million by 2040, indicating 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of electrical play. This would be equivalent to 11% of global electric current request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the probe, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrified vehicle market at present is intensely dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Three million EVs have now been sold worldwide and two thousand fifteen witnessed strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrified vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrified vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The investigate’s calculations on total cost of ownership demonstrate BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Three.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Trio.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, implements and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now possessed and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research rock-hard focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.
Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrical vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrical vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The explore, published today, forecasts that sales of electrified vehicles will hit forty one million by 2040, indicating 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of electro-therapy. This would be equivalent to 11% of global electro-stimulation request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the investigate, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrified vehicle market at present is powerfully dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Three million EVs have now been sold worldwide and two thousand fifteen eyed strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrified vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrical vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The probe’s calculations on total cost of ownership showcase BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Three.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Trio.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, implements and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now possessed and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research rock-hard focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.
Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrical vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrical vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The explore, published today, forecasts that sales of electrified vehicles will hit forty one million by 2040, signifying 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of electro-stimulation. This would be equivalent to 11% of global tens unit request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the examine, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrical vehicle market at present is powerfully dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Three million EVs have now been sold worldwide and two thousand fifteen spotted strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrical vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrical vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The probe’s calculations on total cost of ownership demonstrate BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Three.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Three.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, implements and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now possessed and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research rigid focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.
Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrical vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrical vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The examine, published today, forecasts that sales of electrical vehicles will hit forty one million by 2040, signifying 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of violet wand. This would be equivalent to 11% of global electro-stimulation request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the investigate, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrified vehicle market at present is strenuously dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Three million EVs have now been sold worldwide and two thousand fifteen eyed strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrical vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrified vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The explore’s calculations on total cost of ownership showcase BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Three.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Trio.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, contraptions and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now wielded and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research rigid focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.
Electrified vehicles to be 35% of global fresh car sales by 2040, Bloomberg Fresh Energy Finance
Electrical vehicles to be 35% of global fresh car sales by 2040
Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.
London and Fresh York, twenty five February two thousand sixteen – The electrical vehicle revolution could turn out to be more dramatic than governments and oil companies have yet realized. Fresh research by Bloomberg Fresh Energy Finance suggests that further, big reductions in battery prices lie ahead, and that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries.
The probe, published today, forecasts that sales of electrical vehicles will hit forty one million by 2040, indicating 35% of fresh light duty vehicle sales. This would be almost ninety times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
This projected switch inbetween now and two thousand forty will have implications beyond the car market. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing thirteen million barrels per day of crude oil but using Two,700TWh of electric current. This would be equivalent to 11% of global electro-stimulation request in 2015.[1]
Colin McKerracher, lead advanced transportation analyst at Bloomberg Fresh Energy Finance, said: “At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as fresh chemistries come in.”
Salim Morsy, senior analyst and author of the explore, commented: “Our central forecast is based on the crude oil price recovering to $50, and then trending back up to $70-a-barrel or higher by 2040.[Two] Interestingly, if the oil price were to fall to $20 and stick there, this would only delay mass adoption of EVs to the early 2030s.”
The electrified vehicle market at present is strongly dependent on “early adopters” keen to attempt out fresh technology or reduce their emissions, and on government incentives suggested in markets such as China, Netherlands and Norway. Albeit some 1.Trio million EVs have now been sold worldwide and two thousand fifteen eyed strong growth, they still represented less than 1% of light duty vehicle sales last year.
EVs come in two categories – battery electrified vehicles, or BEVs, that rely entirely on their batteries to provide power; and plug-in hybrid electrical vehicles, or PHEVs, that have batteries that can be recharged but have conventional engines as back-up. The best-selling BEV over the last six years has been the Nissan Leaf, and the best-selling PHEV the Chevrolet Volt.
** To see this data in interactive charts and related commentary, please click here**
The probe’s calculations on total cost of ownership showcase BEVs becoming cheaper on an unsubsidised basis than internal combustion engine cars by the mid-2020s, even if the latter proceed to improve their average mileage per gallon by Trio.5% per year. It assumes that a BEV with a 60kWh battery will travel two hundred miles inbetween charges. The very first generation of these long-range, mid-priced BEVs is set to hit the market in the next eighteen months with the launch of the Chevy Bolt and Tesla Model Three.
Morsy said: “In the next few years, the total-cost-of-ownership advantage will proceed to lie with conventional cars, and we therefore do not expect EVs to exceed 5% of light duty vehicle sales in most markets – except where subsidies make up the difference. However, that cost comparison is set to switch radically in the 2020s.”
[1] The TWh and percentage figures in this paragraph were corrected on seven March.
[Two] This is in line with the price trajectory mentioned by the US Energy Information Administration in its Annual Energy Outlook 2015.
The EV forecast will be a featured topic at our annual BNEF Summit. If you’re interested in securing a press badge for the event – April 4th and 5th in Fresh York City – please contact Jennifer MacDonald at [email protected]
Bloomberg Fresh Energy Finance
+44 two hundred three 525 9332
ABOUT BLOOMBERG Fresh ENERGY FINANCE
Bloomberg Fresh Energy Finance (BNEF) provides unique analysis, instruments and data for decision makers driving switch in the energy system. With unrivalled depth and breadth, we help clients stay on top of developments across the energy spectrum from our comprehensive web-based platform. BNEF has two hundred staff based in London, Fresh York, Beijing, Cape Town, Hong Kong, Munich, Fresh Delhi, San Francisco, São Paulo, Singapore, Sydney, Tokyo, Washington D.C., and Zurich.
Fresh Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now possessed and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg Fresh Energy Finance: http://about.bnef.com, or contact us at [email protected] for more information on our services.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit http://www.bloomberg.com/company/ or request a demo.
About Bloomberg Fresh Energy Finance
Bloomberg Fresh Energy Finance (BNEF) is an industry research hard focused on helping energy professionals generate opportunities. With a team of experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate switch in an evolving energy economy.