article thumbnail

IHS Markit: average cost of lithium-ion battery cell to fall below $100/kWh in 2023

Green Car Congress

The average cost of a Li-ion battery cell—used to power electric vehicles and to provide flexibility in the power grid as more renewables, such as solar and wind, are added will fall below $100 per kilowatt hour (kWh) in the next three years, according to a new analysis by IHS Markit.

article thumbnail

BNEF forecasts EVs to be 35% of global new car sales by 2040; cost of ownership below conventional-fuel vehicles by 2025

Green Car Congress

A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. BNEF will discuss its EV forecast in detail at its upcoming annual BNEF Summit in New York in April. Although some 1.3

Cost Of 150
article thumbnail

Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. The company’s shares were down about 4% in early trade. billion to USD 44.2 billion to USD 45.4

article thumbnail

EVs like Teslas will be cheaper to produce than their internal combustion rivals by 2027

Teslarati

Recent forecasts from BloombergNEF have indicated that electric cars and vans will likely be cheaper to produce than conventional, fossil-fueled powered alternatives by 2027, with smaller cars reaching the same threshold the following year. . Fortunately, the cost of producing EV batteries has fallen significantly over the years.

article thumbnail

SAE International publishes updated standard for on-route mechanized conductive EV charging systems for buses: SAE J3105

Green Car Congress

SAE International published its latest standard, SAE J3105 : Electric Vehicle Power Transfer System Using Conductive Automated Connection Devices, along with three new tributary documents. The market growth is primarily driven by several federal, regional, and state grants and incentive programs.

Standards 186
article thumbnail

Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

Green Car Congress

Demand for lithium ion batteries is forecast to grow to 3.7 The amount is just a fraction of the estimated $35 trillion needed to be spent on the energy transition by 2030, according to the International Renewable Energy Agency. Natural and synthetic graphite are forecast by Benchmark to have a combined supply gap of 3.6

article thumbnail

BloombergNEF: electrics to take 57% of global passenger car sales, 81% of municipal bus sales by 2040

Green Car Congress

BloombergNEF (BNEF) is out with an aggressive forecast that projects electric vehicles taking up 57% of the global passenger car sales by 2040—slightly higher than it forecast a year ago—and electric buses with 81% of municipal bus sales by the same date. A year ago, BNEF estimated their impact on road fuel demand at 7.3

Sale 341