22 May '18, 6am

Report: Electric Buses to Surge Even Faster Than EVs as Conventional Vehicles Fade

The electrification of road transport will move into top gear in the second half of the 2020s, thanks to tumbling battery costs and larger-scale manufacturing, with sales of electric cars racing to 28%, and those of electric buses to 84%, of their respective global markets by 2030. The latest long-term forecast from Bloomberg New Energy Finance (BNEF) shows sales of electric vehicles (EVs), increasing from a record 1.1 million worldwide last year to 11 million in 2025, and then surging to 30 million in 2030 as they establish cost advantage over internal combustion engine (ICE) cars. China will lead this transition, with sales there accounting for almost 50% of the global EV market in 2025 and 39% in 2030. The number of ICE vehicles sold per year (gasoline or diesel) is expected to start declining in the mid-2020s, as EVs bite hard into their market. In 2040, some 60 millio...

Full article: https://electriccarsreport.com/2018/05/report-electric-bu...

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