The Electric Vehicle Will Lead The Global Electric Vehicle Market By 2030

- May 23, 2018-

According to new statistics from Bloomberg New Energy Finance (BNEF), with the rapid growth of sales of electric vehicles in the late 1920s, electric buses will lead other low-carbon vehicles.

The data shows that by 2030, electric buses will account for 84% of the global passenger car market, surpassing the growth of electric vehicles and are expected to account for 28% of sales.

By 2019, the cost of ownership of almost all electric vehicles configured for charging will be lower than that of traditional municipal buses.

China has more than 300,000 electric buses on the road. Due to the significant drop in battery costs and large-scale production, the estimated number will increase rapidly.

Last year, the world’s electric vehicle sales reached a record high of 1.1 million units, which will reach 11 million by 2025 and 30 million by 2030 because they are cheaper than traditional ICE vehicles.

According to Colin McKerracher, BNEF’s chief analyst of advanced transportation, “The new feature of this forecast is electric buses. China has led this market with enormous advantages, accounting for 99% of the world's total last year. This trend will continue in other parts of the world. By 2040, it is expected that 80% of the world's municipal bus fleet will become electric buses.”

Reprinted Cable Network