EVs can “eat into traditional market share for liquid fuels,” but that’s largely a “developed economy, or rich country issue at this point.” — Dean Foreman, American Petroleum Institute. Over the past few years, the EV momentum has gone into overdrive thanks to the ESG craze and the shift to renewable energy. Last year marked a fresh high for the EV industry after the global electric-car market recorded growth of 41%, according to an International Energy Agency report . Global EV sales in 2020 increased by 39% Y/Y to 3.1 million units , an impressive feat considering that the total passenger car market declined 14% amid the pandemic. Part of the robust growth can be chalked up to legacy automakers accelerating their EV launch plans, partly to comply with increasingly stringent regulations in Europe and China. And now the undeniable EV momentum has some experts spelling doom for the […]