29 Feb '16, 3pm

Plug-in Car Ownership Costs Projected To Beat Conventional Cars by Mid 2020s

As battery costs decline, plug-in electrified vehicles could in coming years teeter into mainstream acceptance, competing favorable against conventional vehicles, and displacing 13 million barrels of oil per day. This is the global prognosis of a report looking into next decade and through 2040 by Bloomberg New Energy Finance. Published on Thursday, the report projected vehicle sales will reach 41 million by 2040, representing 35 percent of new light duty vehicle sales – or 90-times the levels they were in 2014. “The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing 13 million barrels per day of crude oil but using 1,900TWh of electricity,” said Bloomberg New Energy Finance. “This would be equivalent to nearly 8 percent of global electricity demand in 2015.” The forecast contemplated myriad variabl...

Full article: http://www.hybridcars.com/plug-in-car-ownership-costs-pro...

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