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BNEF forecasts EVs to hit 54% of new car sales by 2040; decreasing importance of PHEVs

Green Car Congress

Electric vehicles will make up the majority of new car sales worldwide by 2040, and account for 33% of all the light-duty vehicles on the road, according to a new forecast published by Bloomberg New Energy Finance (BNEF). Emerging economies such as India are forecast not to see significant EV sales until the late 2020s.

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BNEF forecasts EVs to be 35% of global new car sales by 2040; cost of ownership below conventional-fuel vehicles by 2025

Green Car Congress

A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. This would be almost 90 times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014. per year.

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Norweign Drivers switch to Electric Cars

EV Report

Above – Electric Car at Norway. There has been a steady increase in electric and hybrid cars over the last decade in the US but still only 2 percent account for new car sales in the US. Most people do know and feel that if we drive electric cars we could reduce the consumption of oil and could reduce pollution.

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The New Oil Cartel Threatening OPEC

Green Car Congress

The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels. Electrification is where OPEC may have to face off with a future oil buyers’ cartel. At the same time, it still imports crude and quite a lot of it, so it cares about oil prices as a large buyer.

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The New Oil Cartel Threatening OPEC

Green Car Congress

The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels. Electrification is where OPEC may have to face off with a future oil buyers’ cartel. At the same time, it still imports crude and quite a lot of it, so it cares about oil prices as a large buyer.

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GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

Green Car Congress

GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). Overview of the Sargas system. Source: Sargas. Click to enlarge.

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