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Cheaper Batteries, More Chargers for Electric Car Buyers in 2020

The rush to electrify transportation will shift from China to Europe

Photographer: Matthew Lloyd/Bloomberg

The rush to electrify transportation will shift to Europe from China in 2020 as carmakers and governments work to cut carbon emissions that lead to global warming, according to a forecast from BloombergNEF, Bloomberg LP’s primary research service on energy transition.

In the report, “EVs and New Mobility: Trends to Watch in 2020,” BNEF analysts estimate that global car companies will sell about 2.5 million electric passenger vehicles this year, 20% more than in 2019. 

While China will continue to dominate the global electric car market, the country’s decision to reduce subsidies will help shift growth momentum to Europe. New models from companies such as Volkswagen AG will help Europe sell 800,000 electric cars by the end of the year, up 60% from 2019, according to BNEF.