New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
End of the ICE Age looms as EV sales accelerate
18/10/2023
6 min read
Feature
Electric vehicle (EV) sales are steadily lapping those of traditional internal combustion engines (ICE) across the globe. But sales are not linear in all markets. And the effect of removal of subsidies cannot be dismissed, along with concerns about having sufficient batteries. Selwyn Parker reports.
Like most revolutions, the one that is making road transport electric was brewing for a long time before it burst on us.
Hardly 20 years ago, EVs were still an oddity on the roads of the western world and almost non-existent elsewhere. Tesla, one of the biggest-selling manufacturers, was only founded in 2003 and its first car, the Roadster, was unveiled in 2008. Although, as automotive historians point out, the first EVs date way back to the mid-1800s and, if Henry Ford had not realised that oil was more abundant than electricity when he designed the Model T, battery-driven cars might have become the standard.
But now the latest numbers continue to confound the pundits. According to the International Energy Agency’s (IEA) 2023 Net Zero Roadmap, EVs will account for two-thirds of all car sales by 2030 at current growth rates. That forecast is based on the unexpectedly rapid growth of the last five years.