The tipping point for electrified vehicles is in sight, and a combination of hybrid and fully electric powertrains is expected to cut the global market share of pure internal combustion engines (ICEs) by about 50% by 2030.
13. 13
Gas-to-electricity ratio and number of miles driven in region will drive a
favorable TCO
$/Gallon1 2.50 5.70 3.80 4.16
$/kWh 0.12 0.36 0.08 0.26
Gas-to-electricity ratio 20.8 15.8 47.5 16.0
Number of miles driven 13,671 9,012 12,460 5,594
xEVs beneficial 2nd 3rd 1st 4th
1. Base case assumes $60/barrel
Sources: US Energy Information Administration; Energy.gov
China provides the most favorable combination of
energy prices and mileage for xEV penetration