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ELECTRIC VEHICLES WILL SOON LEAD GLOBAL AUTO MARKETS, BUT TOO SLOW TO HIT CLIMATE GOALS WITHOUT NEW POLICY
The report analyzes the current trajectory of electric vehicle (EV) adoption, noting that while sales are growing exponentially and battery costs have fallen by 89% since 2010, market forces alone are insufficient to meet climate targets. It recommends that policymakers target 60% ZEV sales by 2030 and 100% by 2035. The authors advocate for a policy portfolio combining ZEV sales standards and tailpipe GHG emissions standards, alongside consumer incentives, charging infrastructure investment, and critical mineral supply chain development. The document also highlights the role of 'learning curves' and the success of the solar industry in overcoming material bottlenecks as evidence that the EV transition can be accelerated through strategic policy.
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Document type: Report