Electric vehicle sales to reach 1.6m this year, battery prices tumbling

Electric vehicle (EV) sales are on pace to reach more than 1.6-million units this year, up from just a few hundred thousand in 2014. According to Bloomberg New Energy Finance’s (BNEF’s) Electric Vehicle Outlook 2018, there are a number of reasons for this increase, including the fact that lithium-ion battery prices have tumbled in recent years.