Falling battery costs to drive sales but European carmakers will lose out to rivals in the US and Asia, forecasts Dutch bank
All new cars sold in Europe will be electric within less than two decades, driven by government support, falling battery costs and economies of scale, a Dutch bank has predicted.
However, ING warned that with battery-powered vehicles accounting for 100% of registrations in 2035 across the continent, European carmakers would lose out to their rivals in the US and Asia who already lead on battery production.