The IEA Global Electric Vehicle (EV) Outlook 2018 provides a comprehensive look at the state of EVs, charging infrastructure and policies around the globe today as well as a series of scenario outlooks to 2030. The report found that almost 1 million electric vehicles were sold in 2017, a new record, which saw an expansion of more than 50% from 2016. Almost half the vehicles sold were in China, and along with Norway, Iceland and a few other countries the EV market is still largely dependent on a select few countries. Public infrastructure has still ways to go before EVs become a viable option on the roads of most countries, as of now people are forced to charge their vehicles at work or at home.
The report highlights the fact that with the advancements in battery technology, the costs have seen a massive drop. But with the faster adoption, the demand for materials like lithium and cobalt will increase. And to sustain the EV push, this demand will have to be continuously met. The report ends with the prediction that the number of electric cars on the roads could reach 125 million by 2030 under the IEA’s New Policies Scenario. But with rising ambitions and proper execution the number of electric cars on the road could be as high as 220 million in 2030.
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