Cost of EVs to Match Internal Combustion Engine Cars by 2022
What's more, the accounting firm predicts that another 21 million electric cars will be on the road globally over the next decade due to growing market demand for clean transportation, government subsidies, as well as bans on fossil fuel cars.
All-electric cars (versus plug-in hybrids, for instance) will account for 70 percent of total electric vehicle market by 2030, the analysis says.
Cheaper prices is another factor that could boost consumer demand. Cost is often cited as a major barrier to mass adoption, but the report says that ownership cost of battery electric vehicles will match gasoline and diesel cars in the United Kingdom by 2021 and globally by 2022.
That's Deloitte's most hopeful prediction. Under less ideal conditions, it could take until 2024 for the cost to own a battery electric vehicle to be on par with traditional internal combustion engine cars, the company notes.
Other reports have also suggested that electric car sales will accelerate rapidly, which is positive news for the environment and public health. These cars help reduce tailpipe emissions that contributes to harmful air pollution and climate change.
However, Deloitte forecasts a global glut of 14 million vehicles as manufacturers' investment in capacity outpaces consumer demand by 2030.
"This gearing up of EV production is driving a wide 'expectation gap' and manufacturers, both incumbent and new entrants alike, will need to adapt towards this new competitive landscape," Michael Woodward, UK automotive partner at Deloitte, said in a press release.
"Those that can successfully build trust in their brand, ensure a positive customer experience from initial sale through to aftercare, and reflect consumer shifts towards the sharing economy in future business models will successfully navigate this," Woodward continued. "Equally, continual investment in engineering talent and the formation of partnerships with bespoke battery producers and third-party mechanic networks will also be important."
Many of the world's biggest automakers are shifting away from traditional internal combustion engines to charging.
On Tuesday, Toyota announced new efforts to move its electric lineup by pairing up with Panasonic, the world's largest manufacturer of lithium-ion battery cells. Panasonic also supplies batteries for Tesla's electric cars.
As electrified cars’ hunger for power increases, Toyota and Panasonic confirm plans to open a joint venture next ye… https://t.co/2fHUWQlhyI— Autocar (@Autocar)1548171263.0
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By Julia Conley
A federal judge in Washington, D.C. late Sunday struck down the Trump administration's proposed changes to the SNAP benefits program, potentially saving hundreds of thousands of people from losing badly needed federal food assistance.
<div id="e8d44" class="rm-shortcode" data-rm-shortcode-id="be49aabc36a5465eed30ca54f88f6b2d"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1318171686232096772" data-partner="rebelmouse"><div style="margin:1em 0">A judge has ruled in our favor and blocked the Trump administration’s unlawful changes to SNAP. This decision is… https://t.co/5zeTafxMLm</div> — NY AG James (@NY AG James)<a href="https://twitter.com/NewYorkStateAG/statuses/1318171686232096772">1603111595.0</a></blockquote></div>
<div id="f47ab" class="rm-shortcode" data-rm-shortcode-id="381daa45528adda7398d5628d047294f"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1318175677724676096" data-partner="rebelmouse"><div style="margin:1em 0">There's a lot of competition for Vilest Policy Ever, but slashing food stamps during a pandemic that's causing mass… https://t.co/EYvb0C8Q3m</div> — Tamar Haspel (@Tamar Haspel)<a href="https://twitter.com/TamarHaspel/statuses/1318175677724676096">1603112546.0</a></blockquote></div>
<div id="946d8" class="rm-shortcode" data-rm-shortcode-id="3cff2dc2643fc55ab21d2a73881c7de8"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1318168614541950976" data-partner="rebelmouse"><div style="margin:1em 0">Trump: yes to Space Force, no to Food Stamps. Another equation that might be remembered in a few weeks. https://t.co/9IEDBaMy2o</div> — Matt Taibbi (@Matt Taibbi)<a href="https://twitter.com/mtaibbi/statuses/1318168614541950976">1603110862.0</a></blockquote></div><p>"Trump: yes to Space Force, no to Food Stamps," Taibbi tweeted.</p>
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EcoWatch Daily Newsletter
By Andrea Germanos
A group of Indigenous women and their allies on Monday urged the heads of major global financial institutions to stop propping up the tar sands industry and sever all ties with the sector's "climate-wrecking pipelines, as well as the massively destructive extraction projects that feed them."
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Poor eating habits, lack of exercise, genetics, and a bunch of other things are known to be behind excessive weight gain. But, did you know that how much sleep you get each night can also determine how much weight you gain or lose?
In January of 2019, a concerned citizen in Marion County, Florida noticed something strange: Someone was trapping flying squirrels.
The process of preparing and mixing a baby bottle formula seems innocuous, but new research finds this common occurrence is actually releasing millions of microplastic particles from the bottle's lining, Wired reported.
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