Sales of electric passenger vehicles will increase significantly as they move on from 3 million in 2020 to 66 million in 2040. Electric vehicles will thus account for more than two-thirds of passenger vehicle sales in 2040 with Europe and China leading the transition to green mobility. This is what emerges from the scenario traced by BloombergNEF about where the electric vehicle industry is heading now.
Among the elements that will lead to a further acceleration of demand for electric cars, BloombergNEF points to the increase in charging points, government policies that make it more difficult to drive gasoline and diesel cars, and lower battery prices with technological and production upgrades. and higher demand. Buses and two- and three-wheeled vehicles are also seen to exhibit adoption rates similar to those of electric vehicles.
In Europe, battery electric cars are approaching price parity with internal combustion vehicles.
There are currently more than 500 electric vehicle models on the global market. On average, electric vehicles that debuted in 2020 have a ‘autonomy of 359 kmi before needing a charge, more than doubled from 166 km in 2012. In China and Europe, charging points have more than doubled in two years.
In the past few weeks one Barclays studio has estimated a penetration of 65% of the electric sector compared to the current 1%. In particular, the penetration of electric vehicles is expected to accelerate between 2030 and 2040. Barclays sees electric vehicles in circulation increase from 7 million in 2020 to 240 million by 2030 and over 1.1 billion in 2050.