Crossing the tipping point - Electric Vehicles Case Study - In partnership with

China India 50 40 • In the EU and China, the first tipping point has already been crossed: BEVs are now cheaper to own than petrol and diesel cars, in the small 40 and medium-sized car segments, when both the purchase price and the 30 cost of use are accounted for. [...] Their progress greatly increases economies of scale 10 in battery production, bringing down the cost of electric vehicles for the rest of the world [4]. [...] Its EV share of car sales stood at Portugal Netherlands Romania 25% in the first quarter of 2023, 3-4 times the level of the rest of the Austria SwissSlovakia France Denmark UKSpain USA, and EVs are now its largest export [3]. [...] The Inflation Reduction Poland Czech Belgium Italy GermanyGreece Act should help the rest of the USA catch up: it is expected to cut the 0 -500 -400 -300 -200 -100 0 100 purchase price of electric cars by $3,000 to $9,000 [4], accelerating adoption and bringing forward the price-parity tipping point. [...] 0 • Policy combinations have driven the growth of electric vehicle sales RT+FE RT+EVM FE+EVM EVS+EVM RT+FE RT+EVM FE+EVM EVS+EVM in the markets leading the transition, including Norway, California, China, the EU, Canada and the UK [3].