Oil displacement by region, 2023-2035

Notes

STEPS = Stated Policy Scenario; APS = Announced Pledges Scenario; NZE = Net Zero Emissions by 2050 Scenario; LDV = light-duty vehicle. Oil displacement is based on internal combustion engine (ICE) vehicle fuel consumption to cover the same mileage as the EV fleet. Oil displacement is calculated by assuming that the distance (total kilometres) travelled by EVs by segment each year would have been otherwise travelled by ICE vehicles or hybrid electric vehicles (HEVs). In the case of PHEVs – where the powertrain uses both oil-based fuel and electricity, only the distance covered by electricity is included. This method of estimation assumes that EVs replace ICE or hybrid vehicles of the same segment, and that these vehicles follow the same driving behaviour. The accuracy of this assumption is uncertain. There is some evidence to suggest that EVs are driven further than their ICE counterparts, for example.