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
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
9 December 2025
The group’s oil production declined in November, our latest analysis finds, amid divided sentiment over market balances and geopolitical jitters
8 December 2025
The Caribbean country’s role in the global oil market is significantly diminished, but disruptions caused by outright conflict would still have implications for US Gulf Coast refineries
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
