EV market accelerates on cost parity
Not everyone is a friend of electric vehicles, but the sector is on a roll that will be hard to stop
US president Donald Trump's support for the internal combustion engine (ICE) at the expense of electric vehicles (EVs) and his administration's trade war with leading EV manufacturer China has created uncertainty over the pace at which the EV market—and thus the displacement of oil in the transport sector—will happen. But industry analysts think that, with nearly all major vehicle manufacturers already heavily invested in the technology and demand set to grow among fast-growing developing economies, the shift towards lower-cost EVs is unstoppable. DNV GL, in its just-published annual Energy Transition Outlook, says it expects the global market share of EVs to soar once costs fall. "Our EV up
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
