Technology Driving Innovation

An Inflection Point in the Global Expansion of Electric Vehicles

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.