Bloomberg’s Bullish Report on Electric Transportation

According to Bloomberg, a combination of lower cost batteries, better energy density, and increase in the number of charging points is driving an enormous growth curve for electric vehicles.  There were 3 million sold worldwide in 2020; these guys predict a 22X expansion on that number (to 66 million) by 2040.

Government also has a role in all this.  The United States may be toughening CAFE standards, but that’s nothing like what’s happening in Europe, where it will soon become illegal to sell a new vehicle with an internal combustion engine. 

EV adoption is also a result of the commitment from the OEMs, who, for whatever reason, believe that the time is right, and are scaling their electric transportation enterprises to levels that were inconceivable just a few years ago.

All this may appear extreme, but this has been “a long time coming.”  People have been predicting a spurt like this for at least the last 15 years.  Expansion curves like these seem never to happen–until they do.  Witness cell phones.

Note as well that all this is taking place during the demise of coal–in all, a terrific boon for the environment.