More than one in three new vehicles sold in 2030 will be electric thanks to “explosive” growth in the market, according to the International Energy Agency (IEA).
The influential Paris-based group says electric cars are already on track to make up 18% of sales in 2023. With new policies driving growth in the US and the EU, the share of electric models in 2030 is now set to be more than double what it expected just two years ago.
The expansion means that the demand for oil-based fuels such as petrol and diesel in the road transport sector will start to decline within just two years. Around 5% of current oil demand will have been wiped out by 2030, it adds.
Comments are closed.