Loading...
Loading...
covid-19-puts-electric-vehicle-sales-and-co2-fleet-emission-targets-at-risk-says-globaldata
covid-19-puts-electric-vehicle-sales-and-co2-fleet-emission-targets-at-risk-says-globaldata

Covid-19 puts electric vehicle sales and CO2 fleet emission targets at risk, says GlobalData

GlobalData research shows that lower oil prices as a result of the Covid-19 crisis could reduce electric vehicle demand and impair EU efforts to significantly reduce average new vehicle CO2 emissions in the European car market, the data and analytics company said.

Mike Vousden, Automotive Analyst at GlobalData, commented, “GlobalData’s analysis suggests that low oil prices will lead to a longer waits for the reduced fuel costs offered by electric vehicles (EVs) to amortise their higher purchase prices.”

“This could prove very problematic for the industry in a year that was supposed to mark the big shift to EVs to reduce fleet CO2 emissions in line with new tighter EU CO2 targets.”

EVs typically cost more than an equivalent internal-combustion-engined (ICE) vehicle but their lower running costs reduce that price differential over time and, in the longer term, end up costing less overall than their ICE counterparts.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To gain access to this article and all our other content, you will need to subscribe to H2 View.

From the latest print editions, to 24/7 online access to exclusive interviews, authoritative columnists and the H2 View news archive, a subscription is the best way for you to stay up to date with developments in the hydrogen community.

Please wait...