The sluggish EV revolution

The switch to EVs will be slower than widely predicted—unless China takes the plunge

Electric vehicles (EV) are surging" is a headline we've often read over the past year. It seems inevitable: the electric-car revolution is around the corner and the end of growing oil demand is nigh. Yet global oil consumption continues to rise, predominantly driven by low oil prices and strong demand from the transportation sector. None of the fundamental shortcomings of electric cars has been eliminated over the past year: there hasn't been a breakthrough in battery technology and it's unlikely we'll see one in 2018. EVs are still heavily reliant on government subsidies and will remain so. Even with today's low number of electric cars, the inadequacy of charging infrastructure is already a