RE: Patience21 Sep 2023 06:20
I will keep buying at these prices.
The revised date set by the UK government brings us in line with the EU, their 2035 cut off date was voted on in February.
The EU also has an intermediate target of 55% reduction in CO2 emissions for cars compared with 2021 levels and a 50% reduction for vans by 2030.
A few extracts from recent articles posted this month.
Later-adopting countries, such as India and Israel, are now accelerating EV deployment at faster rates than the global average, meaning they have a chance to catch up with the front-runners, such as China, according to analysis by Systems Change Lab.
Leading markets have already crossed a tipping point, with the EU and China seeing battery electric vehicles cheaper to own than petrol and diesel cars in the small and medium-sized car segments, according to new research from the EEIST project.
Battery electric vehicles are likely to cross a second tipping point, where their purchase price falls below that of an equivalent petrol or diesel car, as early as 2024 in Europe, 2025 in China, 2026 in the US, and 2027 in India, EEIST analysis shows.
Another important consideration is the demand for batteries in the renewable energy storage sector.
Due to the of the intermittent nature of renewable energy sources like solar or wind, Europe will need ways to store energy to reach its goal of net-zero carbon dioxide emissions by 2050. “This will skyrocket our demand for lithium-ion batteries, fuel cells and electrolyzers, which is expected to multiply between 10 and 30 times in the coming years," a quote from a recent report by the EU which will form the basis of a summit in October.