Electric Vehicles
⛽ China's declining gasoline consumption exceeds expectations
China's gasoline consumption will decrease by 4-5 percent annually until 2030. The decline in gasoline demand in China is more pronounced than in the US and Europe. PetroChina predicts that the number of gasoline-powered cars will peak already in 2025.
🔋 Battery prices for electric cars continue to drop during 2024
Average battery prices decreased by 20 percent to $115 per kilowatt hour during 2024. Battery cells fell even more, by 30 percent to $78 per kilowatt hour. Electric car batteries for passenger cars fell below $100 per kilowatt hour for the first time.
🔋 Stores are starting to profit from EV charging stations
A new study shows that stores within 200 meters of charging stations get 4 percent more visitors and 5 percent increased sales. Over 200,000 public chargers are now deployed at approximately 74,000 stations in the USA.
🔋 EV sales increase while gas car sales continue to decline
China grew by 35 percent and North America by 10 percent. Sales of new gas-powered cars have decreased by approximately 25 percent since 2017.
🔥 Much lower risk of fire in electric cars compared to fossil fuel cars
The risk of fire in a rechargeable vehicle is 0.0012 percent, compared to 0.1 percent for combustion engine vehicles. According to this statistic, fires in gasoline or diesel-powered cars are over 80 times more common.
🔋 Battery prices continue to drop, lowering the cost of electric vehicles
The price of lithium-ion batteries in China has decreased by 51 percent in the past year. Lower battery prices make electric vehicles cheaper than fossil fuel cars in many segments, and large-scale battery solutions in energy systems become more profitable.
🔋 Electric cars will continue to rise in the US (despite what some claim)
Despite challenges such as inadequate charging infrastructure and high costs, 42 percent of respondents are considering buying an electric car as their next vehicle.
🔋 New fast-charging electric vehicle battery with a lifetime of 400,000 miles
StoreDot has introduced a new electric vehicle battery that can be charged up to 80 percent in just 5-10 minutes. The battery boasts a lifetime of 65,000 miles thanks to the ability to undergo 2,000 ultra-fast charging cycles.
📉 Emissions from new cars have halved over the past four years
Carbon dioxide emissions from new passenger cars decreased by over 8 percent from the previous year. Over the past four years, emissions from the average new passenger car have almost halved. The significant increase in electric cars is crucial for this development.