EVs could make up 45 per cent of car market globally by 2040, Fitch says

//EVs could make up 45 per cent of car market globally by 2040, Fitch says

EVs could make up 45 per cent of car market globally by 2040, Fitch says

Electric vehicles’ (EVs) market share could rise to 45 per cent globally by 2040, according to Fitch Ratings.“The [EVs] market has already outpaced expectations,” the ratings agency said in a research report published last week. “The pace of retirement of existing [internal combustion engine cars] will play a crucial role in the evolution of market shares.” An expected annual retirement rate of 7 per cent of conventional cars will boost EVs, Fitch said. Last year, EV sales jumped 30 per cent to…

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By | 2021-04-12T12:15:20+00:00 April 12th, 2021|Business|Comments Off on EVs could make up 45 per cent of car market globally by 2040, Fitch says