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GFEI report suggests $2T savings from fuel economy improvements in ICE vehicles through 2025 can help fund long-term transition to plug-ins

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The GFEI, a partnership of international agencies and top energy policy experts, suggests that these cost savings could in part be used to help offset the costs of developing a global market for electric vehicles over this time frame, since the savings are estimated to be at least four times bigger than these costs.

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UNEP, IEA, ITF and FIA Foundation to Launch Global Fuel Economy Initiative (GFEI)

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Battery electric vehicles, plug-in hybrids and possibly hydrogen fuel cell vehicles could result in further CO 2 reductions and oil savings if they succeed in achieving mass-market commercialization. This would also depend on the provision by the electricity sector of low-CO 2 electricity.