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