SMART ENERGY INTERNATIONAL | Transportation accounts for nearly 70% of US oil consumption and 28% of the country’s greenhouse gas emissions, making it a prime target for technological improvements that can reduce emissions and combat climate change.
Electrification of the transportation sector represents one of the highest impact strategies to help achieve that goal.
Demand is rapidly growing for electric vehicles due to long-term cost savings, tax incentives, declining battery costs, and environmental awareness. In 2020, it is anticipated that 2.7% of global passenger vehicle sales will be for electric vehicles (EVs). That percentage is expected to grow rapidly – to 10% in 2025, 28% in 2030 and more than half of all vehicle sales (58%) in 2040. In the year 2040, more than 30% of passenger vehicles on the road worldwide will be electric. Even stronger gains are expected in electric buses, delivery vans and trucks, mopeds, scooters, and motorcycles.
To read the full article, click here.