# [TECH] Electric Vehicles (EVs)
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**Electric Vehicles** are road vehicles powered by electric motors drawing from rechargeable batteries, combining semiconductor power electronics, battery chemistry, and software to replace the internal combustion engine.
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## Overview
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Early EVs pre-date ICE vehicles (Parry Thomas, 1884). Modern EVs were enabled by lithium-ion batteries (Goodenough, Whittingham, Yoshino; **Nobel Chemistry 2019**). The Nissan Leaf (2010) and Tesla Model S (2012) launched the modern EV era. By 2023, ~26 million EVs were on the road globally; annual sales exceeded 14 million. Battery costs fell from $1,200/kWh (2010) to $130/kWh (2023), a 90% reduction. The transition to EVs is driven by climate policy, falling costs, and urban air quality regulations.
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## Key Actors
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- **Companies**: Tesla (2003), BYD (2003), Volkswagen, GM, Nio, Rivian, CATL (batteries, 2011)
- **Inventors**: John B. Goodenough (1922–2023), M. Stanley Whittingham (1941–), Akira Yoshino (1948–)
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## Key Patents
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- Goodenough, J. US Patent 4,302,518 (1980) — lithium cobalt oxide cathode
- Tesla (>5,000 patents across powertrain, battery, software)
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## Economic Value
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Global EV market: **$850 billion/year** (2023, BloombergNEF). Tesla market cap peak $1.2T (2021). Projected EV market by 2030: $3.5T/year. Battery manufacturing market: $400B/year by 2030.
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## Notes
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BloombergNEF *EV Outlook* 2023. Battery cost trajectory: BNEF *Battery Price Survey* 2023. Carbon abatement value of EV transition estimated at $1T+/year by 2030 at $50/tonne CO₂.
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# Parents
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* [SCI] Semiconductor Physics⏎