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Rapid EV Growth Hastens the Peak, Then Fall, of Internal Combustion

Electric vehicles are taking off even faster than BNEF expected. Soon, the global fleet of gas cars will start to shrink and profoundly effect transportation and energy.

A Tesla Model 3 electric vehicle in Los Angeles traffic.

A Tesla Model 3 electric vehicle in Los Angeles traffic.

Photographer: Patrick T. Fallon/Bloomberg
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BloombergNEF published its annual long-term electric vehicle outlook today, a deep look at the future on two, three, four and more wheels. The trends are clear: Despite the challenges of a pandemic, supply-chain crunches and trouble sourcing critical minerals, electric vehicles are eating into the transportation system and taking bigger bites every year.