Editor’s note: Germany sources recently announced that the country is toying with the idea of banning gas an diesel powered autos in the near future. As they say, good luck with that. However, assuming EVs drop sufficiently in price as the technology improves (almost a given) and their appeal reaches a wider audience, the goal is within the realm of possibilities. In such an event, the demand for electric power will also rise significantly, giving nuclear a chance for a comeback or to further grow the wind industry. We live in interesting times.
Kirill Klip, President, International Lithium Corp.
Dr. Joe Romm in his recent article “Which will be the first country to ban oil burning cars provides us with more information on the recent decision of German Bundesrat to ban fuel-burning cars.
This tipping point for electric cars to replace oil burning cars is the result of the technological advance called “The Learning Curve” when doubling of production brings on average 26% in cost reduction. Bloomberg expects that by 2022 Electric cars will be cheaper to buy than comparable class of oil burners due to about 14 to 19% cost reduction of lithium batteries every year.
Electric vehicles are now in the fast lane with the first electric cars priced below $40,000 with a range of over 200 miles coming to the market: GM Bolt and Tesla Model 3. BMW i3 with the new larger battery, Renault Zoe with 400-km range and Nissan Leaf with upgraded battery are driving the sales in Europe. China stands on its own with 25 companies making 51 models of electric cars.
The benefits to the consumer are massive, electric vehicles provide better performance with 0-60 mph in as little as 3 seconds. Tesla electric cars have a much better passenger safety and running costs of EVS are in the order of 90% less compared with oil burning cars.
Electric vehicle progress is inevitable and Tesla shows what is coming with Tesla Model S outselling ALL luxury sedan brands in the U.S. and Western Europe by a wide margin. In the Q3 of this year, Tesla Model S sales were almost double of Mercedes S-Class and more than double of BMW 7.
Filed Under: News, Policy