EV sales accounted for 8.6% of the global light-duty vehicle market, compared to just 2.5% in 2019, as per a new International Energy Agency report. Oil and gas investors will receive the latest revelation with a bit of trepidation, considering that EVs are seen as the arch-nemesis of the sector. It could still be decades before the impact of the EV revolution begins to be truly felt by the fossil fuel sector. With the global energy transition in full swing, few clean energy sectors, if any, are expanding faster than the electric car market. A decade ago, a grand total of 130,000 EVs were sold globally; fast forward to the present, and nearly a similar number are sold in just a week. To use a cliché, the EV sector has truly been playing chess while everyone else plays checkers, with sales of battery-electric and plug-in hybrid combined more than […]