Falling battery prices drive EV sales 

Improvements in battery technology mean that electric vehicles (EVs) are reaching cost parity with fossil-fuel cars. Last year, lithium-ion battery prices were $137/kWh – 64% lower than in 2015

China 
Europe
U.S. 
Rest of world

Electric car sales by market
(units sold, battery cost per 2020 $kWh, change on previous year) *estimate

2015
200,000 200,000 100,000 500,000 $384 -35.1%

2016
400,000 200,000 200,000 100,000 900,000 $295 -23.2%

2017
700,000 300,000 200,000 100,000 1.3 million $221 -25.1%

2018
1.2m 400,000 400,000 200,000 2.2 million $181-18.1%

2019
1.1m 600,000 300,000 200,000 2.2 million $157  -13.3%

2020 1.2 million 1.4m 300,000 200,000 3.1 million* $137 -12.7%
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© GRAPHIC NEWS    Picture: Getty Images
Sources: BloombergNEF, International Energy Agency