B Davis, Powering up, Petroleum Review, November 2017, p 14p 6

In the electric vehicle world, it is generally agreed that EVs will penetrate the transport market significantly within a few years, driven by the falling battery costs, and the call for improved air quality. Batteries account for a third of the cost of an EV, and prices are estimated to fall from $240/kWh to $100-160/kWh by 2035, by which time EVs may increase in number from 1.2 mn to 100 mn, a quarter being hybrids. Meanwhile, several countries have announced plans to phase out liquid-fuelled vehicles in the near term. It is also predicted that, by 2020, some EVs will cost less and perform better than their liquid-fuelled counterparts. Of the total world consumption of 95 mn b/d of oil, cars account for 19 mn b/d. The National Grid predicts that all cars will be EVs by 2050, but that this growth in demand should be manageable, and the EV range is expected to be 200 miles. An important factor is that an EV comprises about 300 moving parts compared with 3000 in the ICE vehicle.