Publication: The Economics of Electric Vehicles for Passenger Transportation (Draft)
Date
2022-10-31
ISSN
Published
2022-10-31
Author(s)
Abstract
NOTE: The draft report is no longer available. The final report is available from this page and at https://openknowledge.worldbank.org/handle/10986/39513. Electric mobility has garnered
growing interest and significant momentum across several
major global markets, often motivated by transport sector
decarbonization. Together, Europe, China, and the United
States account for more than 90 percent of the world’s
electric vehicle fleet. For many OECD countries, electric
mobility is seen primarily as a lever for transport sector
decarbonization, given that many of the other relevant
policy options have already been exhausted. This report
finds that electric mobility is also increasingly relevant
for low- and middle-income countries. As of today, electric
mobility for passengers is a comparative rarity across low-
and middle-income countries (LMICs). In some of the LMIC
leading markets, such as Brazil, India, and Indonesia,
electric vehicles account for less than 0.5 percent of total
sales. There are signs that this situation is changing.
India, Chile, and Brazil are leading the way in electrifying
their bus fleets in their largest cities by introducing
innovative financing practices and improved procurement
practices. Battery swapping schemes are taking off in Asian
and East African countries to lower the upfront cost of
two-and three-wheelers. Original modeling for this report
suggests that established global policy targets, such as 30
percent of new passenger vehicles to be electric by 2030,
will make economic sense for many LMICs under a wide range
of possible scenarios.
Citation
“Briceno-Garmendia, Cecilia; Qiao, Wenxin; Foster, Vivien. 2022. The Economics of Electric Vehicles for Passenger Transportation (Draft). © Washington, DC: World Bank. http://hdl.handle.net/10986/38265 License: CC BY 3.0 IGO.”