Electric vehicles to account for half of global car sales by 2035 amid net-zero push – The National

Electric vehicles to account for half of global car sales by 2035 amid net-zero push – The National

Electric vehicles will make up about half of the new car sales worldwide by 2035 as the push for net-zero carbon emissions accelerates, according to Goldman Sachs Research.

EV sales will soar to about 73 million units in 2040, up from around 2 million in 2020 with the percentage of EVs in worldwide car sales projected to rise to 61 per cent from 2 per cent during the period, the US-based investment bank said in a report.

“We expect the automobile industry to undergo a major transformation between 2020 and 2030, driven by the increasing adoption of vehicle electrification and autonomous driving,” Goldman Sachs equity research strategist Kota Yuzawa wrote in the report.