The century-long dominance of gasoline-engine cars will sputter in coming decades as incentivized Chinese buyers and more-efficient manufacturers combine to put electric vehicles atop the sales leader board.
By 2040, more than half of all new car sales and a third of the planet’s automobile fleet -- equal to 559 million vehicles -- will be electric, according to a global outlook published Monday by Bloomberg New Energy Finance. EVs will achieve upfront cost parity with internal-combustion engines beginning in the mid-2020s, helping trigger a tectonic shift in car sales.
