Posted 9/18/2023, 10:24:00 PM

Electric Vehicles on Track to Dominate Global Car Market by 2030, While Oil Demand Falls

Electric vehicle market share could reach 62-86% globally by 2030, according to a report by Rocky Mountain Institute.
China led EV sales growth in 2022, with 27% market share. Europe had 20.8% and USA 7.2%.
Falling battery prices, reaching sticker price parity with ICE vehicles, and new EV factories are driving growth.
Global oil demand for cars peaked in 2017 and will fall rapidly, by 1 million barrels per day by 2030.
Report forecasts optimistic outlook, but EV adoption rates could change due to policies, consumer sentiments, economics.

insideevs.com

Relevant topic timeline:

7/24/2023

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