BNEF expects electric cars to outsell gasoline and diesel models by 2040, reflecting a rapid decline in the cost of lithium-ion battery units that store power for the vehicles. It expects 530 million plug-in cars on the road by 2040, a third of worldwide total number of cars.
For a story on BNEF’s electric car forecasts for 2040, click here.
The Organization of Petroleum Exporting Countries raised its 2040 EV fleet prediction to 266 million from the 46 million it anticipated a year ago. Battery cars under the new projection account for 12 percent of the market within 23 years, compared to 2 percent in the 2015 forecast. Based in Vienna, the group representing 14 nations expects half the number diesel vehicles as it did a year ago.