Electric Vehicles Seen Reaching Sales Supremacy by 2033, Faster Than Expected
- EV sales are predicted to outpace fossil-fuel burners by 2033
- Tougher regulations, rising consumer demand causing the switch
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Global electric vehicle supremacy will arrive by 2033 -- five years earlier than previously expected -- as tougher regulations and rising interest drive demand for zero-emission transportation, according to a new study.
Consultant Ernst & Young LLP now sees EV sales outpacing fossil fuel-burners in 12 years in Europe, China and the U.S. -- the world’s largest auto markets. And by 2045, non-EV sales are seen plummeting to less than 1% of the global car market, EY forecast using an AI-powered prediction tool.