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Bloomberg

Teslas and Nissan Leafs are likely to become a much more common sight on the world’s roads in the next two years, the International Energy Agency said.
The global fleet of electric vehicles (EVs) is likely to more than triple to 13 million by the end of the decade from 3.7 million last year, according to a report released on Wednesday by the Paris-based institution, which was set up to advise industrial nations on energy policy. Sales may soar 24 per cent each year on average through to 2030.
The findings illustrate the speed at which the world’s transport system is shifting toward cleaner fuels as governments focus on limiting pollution and greenhouse gases.
China’s electric car market is growing twice as fast as the US. Here’s why
Tesla and Nissan Motor have some of the best known EVs on the road now, but major carmakers from Volkswagen to General Motors and Audi have followed suit in announcing dozens of battery-powered versions of their models.
Here are some of the key findings of the IEA’s report:

1. China will remain the world’s biggest market.
EVs are expected to make up more than a quarter of vehicles sold in China by 2030, up from 2.2 per cent last year, according to the IEA’s estimates. More than half of global sales last year were in China, followed by the US.
The Chinese government has put a number of policies in place to encourage EVs, as part of an effort to cut air pollution in smog-choked cities. Last year, Beijing set minimum requirements for domestic carmakers on electric vehicle production through a credit trading system. It also extended a 10 per cent tax rebate for consumers until 2020.

2. EVs will displace lots of oil from the market.
Electric cars run on batteries charged by power plants, instead of on petrol or diesel fuel. With an estimated 130 million light-duty vehicles expected on the world’s roads by 2030, the IEA estimates about 2.57 million barrels of oil per day will not be needed.
That is about as much as Germany uses each day. Last year, the global EV fleet displaced 380,000 barrels a day of demand, about half of what Belgium consumes.
The IEA’s estimate is more punchy than the expectation of Bloomberg New Energy Finance that 2.23 million barrels per day will be displaced from the market by electric vehicles by the end of the next decade.

3. At least 10 more giant battery “gigafactories” will be needed
Demand for batteries is expected to rise by a factor of 15 by 2030, largely driven by light-duty vehicles such as cars and vans. China’s burgeoning market is expected to make up half of the world’s demand, followed by Europe, India and the US.
That means the world needs many more battery production plants like the Gigafactory that billionaire Elon Musk’s Tesla is building in Nevada. That facility draws its name from the word giga, meaning billion. It will produce 35 gigawatt-hours of batteries over 4.9 million square feet of operating area.

4. Buses are going electric, too.
There will be 1.5 million electric buses in use worldwide by 2030, up from 370,000 last year, according to the IEA.
Almost 100,000 electrified city buses were sold last year, 99 per cent of those in China. The southern coastal city of Shenzhen is leading the pack with an all-electric bus fleet. A number of cities in Europe’s Nordic region such as Oslo, Trondheim and Gothenburg also have electric buses in operation.

5. Cobalt and lithium demand is surging.
Cobalt and lithium are key ingredients in the rechargeable batteries that power electric vehicles, as well as electronics from smartphones to laptops. Demand could possibly rise tenfold, but technological advances and adjustments to battery chemistry could also significantly reduce this.
Since about 60 per cent of the world’s cobalt is mined in the Democratic Republic of Congo, where child labour still exists, battery makers are under pressure to show that their products are made sustainably. This may provide an incentive to shift away from cobalt-heavy batteries.


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Electric & new energy vehicles

Electric vehicles on the road are set to triple in two years, with China as world’s biggest market

The findings of the International Energy Agency, an institution that advises industrial nations on energy policy, illustrate the speed at which the world’s transport system is shifting toward cleaner fuels, as governments focus on limiting pollution and greenhouse gases

A worker shows a sample of lithium carbonate processed from the Rockwood Lithium mine on the Atacama salt flat, the largest lithium deposit currently in production, in Antofagasta, northern Chile, in this January 14, 2013 file photo. Far from the soy and cattle that dominate its vast fertile pampas, Argentina harbors another valuable commodity that is rocketing in price and demand and luring newly welcomed foreign investors. Lithium, the so-called "white petroleum", drives much of the modern world. It forms a small but essentially irreplaceable component of rechargeable batteries, used in consumer devices like mobile phones and electric cars. It also has pharmaceutical and other applications. Picture taken January 14, 2013. REUTERS/Ivan Alvarado/Files

Tesla Supercharging station at Science Park, Tai Po. 25JAN18 SCMP / K. Y. Cheng

FILE PHOTO: A prototype of the Tesla Model 3 is on display in front of the factory during a media tour of the Tesla Gigafactory which will produce batteries for the electric carmaker in Sparks, Nevada, U.S. July 26, 2016. REUTERS/James Glover II/File Photo

Workers inspect Baojun E100 all-electric battery cars at a final assembly plant operated by General Motors Co and its local joint-venture partners in Liuzhou, Guangxi Zhuang Autonomous Region, China, November 8, 2017. Picture taken November 8, 2017. REUTERS/Norihiko Shirouzu

General photo of BYD's e-bus in Shenzhen. 17OCT17 [FEATURES] SCMP / Xiaomei Chen

A Tesla Model 3 car is displayed during a media preview at the Auto China 2018 motor show in Beijing in April this year. The world’s fleet of electric vehicles is likely to more than triple to 13 million by the end of this decade, up from 3.7 million units last year, according to the International Energy Agency. Photo: Reuters

China’s electric car market is growing twice as fast as the US. Here’s why

Visitors at the Auto China, which is being held in Beijing until May 4. The biennial car show is recognised as one of the most important automotive fairs in the world. Photo: Simon Song

A new electric car by BAIC group is displayed at the 2018 Beijing International Automotive Exhibition, also known as Auto China, at the China International Exhibition Center New Venue in Beijing on Apr. 25, 2018. This year¡¯s Auto China runs from Apr. 25, to May 4. Being held every two years in Beijing, Auto China has been well recognized as one of the most important automotive fairs in the world. 25APR18 SCMP/Simon Song

Electric cars Qiantu are displayed at the 2018 Beijing International Automotive Exhibition, also known as Auto China, at the China International Exhibition Center New Venue in Beijing on Apr. 25, 2018. This year’s Auto China runs from Apr. 25, to May 4. Being held every two years in Beijing, Auto China has been well recognized as one of the most important automotive fairs in the world. 25APR18 SCMP/Simon Song

Sales of new energy vehicles

A pure electric city sports car by KDC in Chongqing city is displayed at the 2018 Beijing International Automotive Exhibition, also known as Auto China, at the China International Exhibition Center New Venue in Beijing on Apr. 25, 2018. This year’s Auto China runs from Apr. 25, to May 4. Being held every two years in Beijing, Auto China has been well recognized as one of the most important automotive fairs in the world. 25APR18 SCMP/Simon Song

China’s WM Motor bets on factory expansion in push to get ahead in electric car market 

Freeman Shen Hui, founder and chairman of Shanghai-based electric car start-up WM Motor Technology. Photo: Handout

***PLEASE CLEAR THE COPYRIGHTS BEFORE REUSE*** He Xiaopeng, co-founder and chairman of Xiaopeng Motor, unveils the company's first production car at CES trade show in Las Vegas. Photo: HANDOUT

A driver charges an electric taxi at a charging station operated by an electric vehicle dealership in Ningde, Fujian Province, China, on Monday, Jan. 29, 2018. China surpassed the U.S. in 2015 to become the world's biggest market for electric cars. Sales of new-energy vehicles - including battery-powered, plug-in hybrid and fuel-cell vehicles - reached 777,000 units last year and could surpass 1 million this year, the China Association of Automobile Manufacturers estimated. Photographer: Qilai Shen/Bloomberg

Chinese US$111,000 electric sports car impresses at Beijing Auto Show

Sales of Qiantu Motor’s K50 EV are expected to kick off in July. Meanwhile, Maybach is seeking to redefine ultra-luxury with its concept model, also on display at the show 

Qiantu Motor’s K50 roadster makes use of carbon fibre to reduce weight. 

Electric Minis to be built in China, as Great Wall gears up for 1m new-energy vehicle production

The Mini Electric Concept, pictured during the International Motor Show IAA in Frankfurt in September last year. Photo: EPA

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Chairman Wei Jianjun speaks at the Great Wall Motor Company Limited interim results announcement. 22AUG11

London Metal Exchange takes aim at booming electric car market with new contracts for battery metals

London Metal Exchange chief executive Matthew Chamberlain speech during the annual LME Asia Week forum in HKCEC, Wan Chai. 17MAY18. SCMP / Xiaomei Chen

Electric vehicles parked in Wuhan, central China. The country is the largest market for electric cars. Photo: AFP 

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The findings of the International Energy Agency, an institution that advises industrial nations on energy policy, illustrate the speed at which the world’s transport system is shifting toward cleaner fuels, as governments focus on limiting pollution and greenhouse gases
