November 20, 2020

YOUR NEXT CAR WILL BE A VOLT:

Shift to electric vehicles in emerging markets will 'end oil era' (Carbon Tracker, 20 November 2020)

China is leading a switch to electric vehicles (EV) in emerging markets which will save governments $250 billion a year in oil imports and cut expected growth in global oil demand by 70%, finds a new report from the financial think tank Carbon Tracker published on Friday.

It's thought to be the first study to reveal that transport in emerging markets accounts for more than 80% of all expected growth in oil demand up to 2030, based on an analysis of the International Energy Agency's business as usual scenario. Half of the growth is forecast to come from China and India.

But the report notes that these countries are already reducing their dependence on oil and actively supporting EVs as prices fall close to those of petrol and diesel vehicles. China leads the world in the deployment of EV and India is following the same path.

Posted by at November 20, 2020 12:00 AM

  

« THE TIGHTENING NOOSE: | Main | BACK TO W: »