article thumbnail

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

Green Car Congress

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. —Lew Fulton.

article thumbnail

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

Green Car Congress

Vehicle technology is changing rapidly and more cost-effective technologies are likely to emerge in coming years, increasing the potential and/or lowering costs further, the partners suggest.