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Plugging In: The EV Transition Gains Speed

Updated on June 23, 11:16 AM EDT

What You Need To Know

Tracking the global transition to electrification.

By The Numbers

  • 3.1 Million Total Global EV Sales in 2020 (Source: BloombergNEF)
  • $137 Average price, per kilowatt hours, for a lithium-ion battery pack in 2020 (Source: BloombergNEF)
  • 112,000 Public EV charging points installed in China, in December 2020; the monthly figure is more than the size of the entire U.S. public charging network (Source: BloombergNEF)

Why It Matters

At the start of the Covid-19 pandemic, automakers’ electric ambitions seemed at risk. But the global auto industry is pushing ahead, driven by carbon emissions targets and climate change policies globally. Combined with the industry’s technological advances, those EV ambitions now are within close reach.

Bloomberg’s coverage of this transition is focused primarily on: cutting edge technology (improving battery manufacturing processes as one example); cost competitiveness; performance (range, and an adequate charging infrastructure); and regulatory mandates.

There are now more than 10 million electric vehicles on the road globally — a small share of total sales, but a quickly growing one. As BloombergNEF’s analysts have underscored, and reporters from Bloomberg Green / Hyperdrive have documented, there’s no turning back — the transition to electric road transport is inevitable.

    Electric vehicles are the future. But lithium-ion batteries might not be the best way to power them.