More than half of new car sales in the world will be electric vehicles (EVs) in 2040, with one-third of the global car fleet then consisting of electric cars, according to the Electric Vehicle Outlook 2018 by Bloomberg New Energy Finance (BNEF) out on Monday. “In 2040, some 60 million EVs are projected to be sold, equivalent to 55% of the global light-duty vehicle market,” BNEF said, noting that as many as 559 million EVs will be on the road in 2040, equivalent to 33 percent of the global car fleet. According to the outlook, sales of EVs will rise from 1.1 million worldwide in 2017 to 11 million in 2025. Sales of EVs are then forecast to soar to 30 million in 2030 “as they become cheaper to make than internal combustion engine (ICE) cars.” China will be the key driver of this transition from gas guzzlers to […]