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The EV Transition Explained: Local Policies Shape Global Competition

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Massachusetts, for example, has set a goal of at least 750,000 to 1 million EVs on the road by 2030; it currently has some 51,000, of which 31,000 are battery electric. For example, the UK will stop the sales of new diesel and petrol-fueled cars and vans from 2030 on. All new vehicles sold will be zero-emission vehicles (ZEVs) in 2035.

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Convincing Consumers To Buy EVs

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Interestingly, a 2019 Massachusetts Institute of Technology (MIT) study predicted that as EVs became more widespread, battery prices would climb because the demand for lithium and other battery metals would rise sharply. Volvo CEO Jim Rowan , disagrees with both of them, however, seeing ICE-EV price parity coming by 2025-2026.

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