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Report: World’s EV Fleet to Triple in Two Years
The world’s fleet of all-electric vehicles will surge to 13 million by 2020 compared with 3.1 million units last year, predicts the Paris-based International Energy Agency.
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The world’s fleet of all-electric vehicles will surge to 13 million by 2020 compared with 3.1 million units last year, predicts the Paris-based International Energy Agency.
The agency forecasts an annual 24% sales rate for EVs through 2030. China, which already accounts for half of global demand for such vehicles, will see EVs capture more than 25% of all passenger vehicle sales by then. IEA says electrics accounted for 2% of the Chinese car market last year.
Electric buses will account for about 1.5 million EVs by 2030, according to the agency. It says 99% of global sales last year were in China.
Supplying carmakers with batteries for EVs will require a 15-fold jump in production capacity for the devices, according to the agency. The additional capacity would equal about 10 factories the size of Tesla Inc.’s 35 gigawatt-hour factories in Utah.
IEA estimates that rising sales of electric vehicles will reduce demand for petroleum by 2.6 million barrels per day—roughly the equivalent of Germany’s daily consumption today.
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