NGT News
April 16, 2021
Battery-electric vehicles (BEVs) continue to show strong growth within the automotive sector. However, BEVs remain more expensive to build compared to incumbent internal combustion engine vehicles, according to Lux Research, a provider of tech-enabled research and advisory services for technology innovation.
Falling prices, improving performance and government regulations are pushing the automotive industry toward electrification. In Lux’s new report, Future Energy for Mobility: The True Costs of Electric Vehicles, industry experts analyze the total cost of electric powertrains – including scenarios for advanced powertrain technologies.
“Electrification of the automotive industry is no longer a question of if,” says Chris Robinson, research director at Lux and lead author of the report. “The push for electrification is due primarily to two factors – technology improvements and regulations. Because of this, automakers have cumulatively committed to investing hundreds of billions of dollars to design, build and sell BEVs.”