Electric Vehicles to Account for Two-thirds of Global Vehicle Sales by 2030
Battery costs will be halved this decade to USD 60 to USD 90 per kilowatt hour from USD 151 per kilowatt hour in 2022, predicted by he Rocky Mountain Institute (RMI). Electric vehicles could be priced on par with conventionally fueled vehicles in the European and US markets by 2024 and 2026, respectively. By 2030, they could be priced at the same level as conventional vehicles in every market globally and account for two-thirds of global vehicle sales.
According to RMI, EV sales will grow at least six times by 2030, garnering a market share of 62% to 86%. Automotive oil demand peaked in 2019 and will decrease by at least 1 million barrels per day after 2030. The exponential EV sales growth is also foreseen by the Economics of Energy Innovation and System Transformation (EEIST) program sp
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