Improvements in operational performance are also increasing the attractiveness of EVs. The average price of EVs rose again in 2016, but this reflects faster growth in more expensive models and does not take account of increases in driving range through battery improvements. For now, reductions in battery costs are translating into longer ranges rather than lower vehicle prices: the average price per kilometre of driving range declined by 6% in 2016. As more cars with ranges of over 300 km of battery capacity become available within the price range of comparable conventional vehicles, declines in EV prices may accelerate as economies of scale rise.

Source: World Energy Investment 2017

11 September 2017