By 2040, electric vehicles will dominate sales, reducing oil demand by 13 million barrels per day

Passenger car sales from ice have already reached a peak, and this development will have wide implications not only for the automotive sector, but also for oil and gas, metals and mining companies.

According to new research, electric vehicles should account for more than half of global passenger car sales by 2040 and completely dominate the bus market.

Sales of diesel and gasoline vehicles will continue to decline, according to Bloomberg NEF Electric Vehicle Outlook 2019 forecast. Continue reading →