Abstract:

The paper analyzes the role of electric vehicles within a lower carbon 2020–2030 new vehicle fleet in Europe. Based on the literature data on cost and emissions collected, analyzed, and aggregated, the cost of batteries, fuel cells, and charging infrastructure has been estimated. In addition, power train costs of battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell electric vehicles (HFCEVs) have been approximated using a bottom-up approach. The authors find that carbon emissions of BEVs using European grid-mix electricity are about half of average European vehicle emissions, with HFCEVs and PHEVs having a lower emissions reduction potential. Reductions in costs and carbon dioxide emission will not be achieved without targeted policy intervention. More stringent carbon dioxide emission standards and fiscal and non-fiscal incentives for electric vehicles can support the growth of electric vehicle market.