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Effect of EVs on gas cars

June 16, 2022


According to a recent Bloomberg article, electric vehicles are taking off even faster than expected and “are eating into the transportation system and taking bigger bites every year.” Soon, it predicted, the number of gas cars globally will start to shrink and could largely affect transportation, fuel costs and energy systems.

Bloomberg New Energy Finance (BNEF) predicts that there will be more than 27 million electric passenger vehicles on the road by the end of 2022. There are currently fewer than 2 million electric buses and commercial vehicles being used on the roads and nearly 300 million electric two- and three-wheelers.

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