According to an analysis by Bloomberg New Energy Finance, 57 percent of all vehicles worldwide would be electric by 2040.
Currently, there are only a handful of electric cars compared to all vehicles that drive around. In some countries, electric cars are adopted faster than in others, but in 2040 at least 57 percent of all vehicles would be electric, at least according to the Bloomberg New Energy Finance (BNEF) report.
It took a while, but the point has finally arrived when electric cars start to cost the same as traditional cars. Moreover, it costs less to charge an electric car than to fill a traditional car with gasoline or diesel. In the long term, electric cars will therefore become the cheaper option.
Last year a total of around 2 million electric cars were sold compared to 85 million traditional cars. By 2040, those figures will more or less meet in the middle: the report estimates that 56 million electric cars will be sold against 42 million traditional cars. The fall in the price of the batteries in these cars will also encourage the general fall in prices, making electric cars even cheaper.
More car sharing
Finally, the analysis also talks about car sharing services such as Uber. Today, more than one billion people around the world would use such services. The BNEF also expects that those services will switch to electric cars faster and in time will reduce the need for a private car.