What are the key assumptions for a ‘carbon-constrained scenario’? Electric vehicles (EV) constitute a very small share of all cars on the road worldwide. According to the International Energy Agency (IEA), the total number of EVs hit 2 million in 2016 . Compare that to the nearly 1.3 billion figure of all vehicles worldwide , according to 2015 figures from the International Association of Motor Vehicle Manufacturers, and it’s clear that EVs do not currently represent a personal transport juggernaut. EV penetration in the global vehicle fleet could be considerably greater less than 20 years from now, however. A recent study by Wood Mackenzie and GTM Research predicts that more than one in five vehicles worldwide – or more than 350 million units – could be powered by electricity rather than the internal combustion engine. The study’s authors foresee such a sharp EV growth trajectory under what they call […]