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A report published by the NREL unveils the quantitative needs assessment for a national charging network capable of supporting the rapid transition to plug-in electric vehicles (PEVs) in the United States. The report comes as the U.S. strives to achieve economy-wide net-zero greenhouse gas emissions by 2050 and meets the ambitious climate goals set forth by the U.S. Department of Energy.

Between January 2022 and November 2022, BYD surpassed LG Energy Solution to achieve third place in the ranking of installed battery capacity for all electric cars sold globally (BEV, PHEV, and HEV). During this period, 446.0 GWh, or 74.7% more energy than the previous year, was stored in the batteries of electric cars. Since the third quarter of 2020, the market has been continuously growing.

The cost of lithium-ion battery packs has increased for the first time since BloombergNEF (BNEF) started monitoring the industry in 2010. This is due to rising raw material and battery component prices as well as skyrocketing inflation.

The EU’s 27 member states have increased the number of goals they have set for the phase-out of conventionally fueled cars.

While China is presently in front of Europe and the US in terms of electrifying the auto industry, the European market will recover in 2025 and regain the lead over the other global regions by 2030.

In the EU, BEVs now account for 11.9% of all new passenger car registrations (up from 9.8% in Q3 2021).