According to a report by Bloomberg New Energy Finance (BNEF) we will reach a little over 90 million electric cars by 2030 and by 2040, 35% of all cars will be electric ( which in my opinion is a little pessimistic). This stands against roughly 1.2 million electric cars as of the end of 2016. For more information about past sales numbers please check out my previous article on this topic.
An increase of 8,000% is mind boggling if you think about it and there are other experts that think even this scenario is too pessimistic….and I agree with them! Depending on the scenario, electric cars will displace enough oil demand too cause another oil glut and maybe then will oil companies finally admit that the electric car as well as renewable energy has won and there is no way around it. Denying this or even fighting against this development is futile and will only lead to an oil crash with billions lost and millions of jobs suddenly gone, just because fossil fuel (not only oil!) companies wouldn’t adapt to the inevitable!
Source: Please go to BNEF for a more detailed analysis on this very interesting topic.
Featured image courtesy of “egorshitikov” via Pixabay