Global electric vehicle (EV) sales are on track to meet or outpace even the most ambitious net-zero timelines and could account for more than two thirds of market share by 2030, according to new analysis.
This analysis is led by RMI, founded as Rocky Mountain Institute, in partnership with the Bezos Earth Fund.
It is one of three separate pieces of research from RMI, Systems Change Lab and the EEIST project, led by the University of Exeter, that highlight the speed and scale of the accelerating transition to EVs.
Following an “S-curve” trajectory, already established by leading EV markets in northern Europe and China, the report implies that EV sales will increase at least sixfold by 2030, to enjoy a market share of 62% to 86% of sales, the analysis shows.
By contrast, current established projections see EVs reaching only around 40% market share by 2030, despite having been consistently revised higher to try and keep up with the exponential growth already under way.