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An Inflection Point in the Global Expansion of Electric Vehicles

14 MAY 2018
TOPICS: Cars | Sustainable Finance Innovation | Technology Driving Innovation

The global market for electric vehicles (EVs) is poised for further growth as the price of batteries – historically the largest cost of the vehicle – continues to decline and major auto manufacturers commit significant resources to electrifying their fleets. "At the rate that battery prices are coming down, we’re going to be to a point in the next five years where it's not a choice between paying more to drive an electric vehicle versus an internal combustion engine. It's going to be a comparable choice" says Chris Buddin of the Goldman Sachs Investment Banking Division. 

 

It’s not just the early adopters or early startups who are focusing on electric vehicles…It's major automotive manufacturers really committing significant resources to electrifying their fleets over the next five to ten years.

- Chris Buddin

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