BNEF report: EV sales set to increase ten-fold by 2025
In a new report on electric vehicles (EVs), Bloomberg New Energy Finance has stated that electric vehicle sales are poised to record a ten-fold increase by 2025, and account for 55% of car sales across the world by the year 2040.
The Bloomberg New Energy Finance (BNEF) report essentially underlines the projections that the share of EVs in the worldwide car market will undergo a dramatic increase in the coming years. Presently, EVs have a very small share of the car market, accounting for barely 2% in most areas. EV sales in China account for nearly 50 percent of global electric vehicle sales. In other markets, EVs have registered impressive gains in sales during the recent quarter.
According to the figures released by BNEF in its recent report, the sales of pure electric cars worldwide stood at a record 1.1 million units in 2017. That figure is set to grow to a whopping 11 million units in 2025, and to 30 million units in 2030.
Asserting that the increase in EV sales in the next few years will start having a significant impact on the sales of gas-powered cars in the mid-2020s, Bloomberg said in the report that EVs will comprise 55% of new-car sales worldwide by 2040, when 33% percent of the cars on the roads will be battery-powered vehicles.
The report also projected that, by the year 2024, some types of EVs will likely become cost-competitive with internal-combustion vehicles. And, furthermore, most types of EVs will apparently sell competitively without any subsidies by year 2029.
Energy giant BP has recently announced the acquisition of Chargemaster, the leading charging network operator in the UK.
In one of the noteworthy unveiling at the 2018 Paris Motor Show, a new commercial electric cargo scooter was introduced by Gaius Auto.
Chevrolet’s Bolt is value-for-money electric vehicle with high demand in the U.S. market but new reports suggest high demand for Bolt EV in Canada as well.
A new all-electric pilot boat -- called ‘RAlly 1600-E’ -- has been recently unveiled by naval engineering firm Robert Allan which mainly manufactures boats for specialty use, such as tug and barge transportation.
In a recent press release, Japanese automaker Nissan has announced that its next-generation LEAF has become the best-selling electric vehicle (EV) in Europe. The next-gen LEAF is the new LEAF model which first hit the markets in October 2017.
According to a recent Reuters report, mining industry in the UK is set to witness a resurgence of sorts, thanks to high demand for electric vehicles (EVs) and shortage for materials for these vehicles.