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6/19/2018 Electric Vehicles on the Road Are Set to Triple in Two Years-Bloomberg 150 million 100 50 0 2017 2030 Source:IEA The findings illustrate the speed at which the world's transportation system is shifting toward cleaner fuels as governments focus on limiting pollution and greenhouse gases. Tesla Inc. and Nissan Motor Co. have some of the best known EVs on the road now, but major automakers from Volkswagen AG to General Motors Co. and Audi AG have followed suit in announcing dozens of battery-powered versions of their models. "The dynamic policy developments that are characterizing the electric car market are expected to mobilize investments in battery production, facilitating cost reductions and ensuring that battery production takes place at scales that exceed significantly what has been seen so far," said Pierpaolo Cazzola, senior energy and transport analyst at the IEA and one of the authors of the report. Here are some of the key findings of the IEA's report: 1. China will remain the biggest market Electric vehicles are expected to take just over a quarter of vehicles sold in the Asian nation by 2030, up from 2.2 percent last year, according to the IEA's estimates. More than half of global sales in 2017 were in China, followed by the U.S. The Chinese government has put a number of policies in place to encourage EVs, party of an effort to cut air pollution in smog-choked cities. In 2017, the government in Beijing it set minimum requirements for domestic carmakers on electric vehicle production through a credit trading system. It also extended <https://www.bloomberg.com/news/articles/2017-12-04/china-is-said-to-plan- extending-electric-vehicle-tax-rebate> a 10 percent tax rebate for consumers until 2020. China Leading Most of the world's electric vehicles are in China https://www.bloomberg.com/news/articles/2018-05-30/electric-vehicles-on-the-road-are-set-to-triple-in-two-years 2/5