David Yager, an oil industry consultant, writes that recent reports predicting electric vehicles will eventually outsell those with internal combustion engines are vastly exaggerated, notwithstanding national bans on future sales of such cars.
Is the movement away from gasoline and diesel-powered cars unstoppable? In response to air pollution litigation, the British government announced on July 26 that sales of gasoline and diesel vehicles would be banned by 2040.
A new report from Bloomberg New Energy Finance predicts that due to a plunge in battery prices and improvement in battery technology, electric vehicles will be cost-competitive with gasoline vehicles in eight years. By 2040, they will outsell them.
In a major announcement that could shake-up the auto industry, Volvo Cars declared it will initiate a gradual divorce from autos solely powered by internal combustion in two years. The Chinese-owned company wants to reduce its environmental impact.