Insight
Transport in transition: the rise of the electric vehicle
Report summary
Electric vehicles are starting to challenge the supremacy of the internal combustion engine. Although a small share of the market today, global EV sales are expected to accelerate rapidly over the next 20 years with some European countries reaching close to 100% sales by 2040. Falling battery costs sit at the heart of this transition. Here, we assess the scale of electrification of both the passenger vehicle and road freight sectors, quantifying the impact on oil demand to 2040.
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- For the Macro Oils Service H1 2018 long-term price outlook and full data set, please see here .
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