Plugged In Or Priced Out?

Costs and Barriers of Entry Into The EV Market.

Contents

1. Introduction

2. Cost of Lithium and Adoption of EVs

3. EV Charging

4. You Will Own Nothing

5. Concluding Remarks

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Bitesize Edition

• The EV transition is underway, but it still has a long way to go. 2019 data from Deloitte states EVs only have 3% of the total vehicle market share.

• The price of lithium-ion batteries has dropped dramatically, falling 97% since 1991. This is helping to reduce the overall price of electric vehicles, but is it enough?

• For first-time buyers of vehicles in a few decades, their only choice will be electric. Once you have an electric vehicle, it’s cheaper to run than ICE vehicles if you have a 7kW home charger installed. However, will these new participants in the transportation sector be priced out due to high upfront costs? If these consumers can’t afford a car upfront, they certainly won’t be able to afford an imaginary house upon which they can place their imaginary 7kW home charger.

• Will we see the innovation of how we move around? Ride-sharing services such as Uber and driverless taxis, such as those invented by Waymo are seeing a rise in popularity.

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Introduction

The clean energy transition is needed in energy use in buildings and industry, in agriculture, and industries such as cement and production of chemicals such as fertilisers. Road transport is one of the largest sectors of greenhouse gas emissions as of 2016 data.

This ensures transport will be one of the largest transitions to modern life as we transition to the green age. Lithium is of vital importance to this transition.