Humankind has passed a significant milestone, one which could set a precedent for the future of transportation.
According to Bloomberg’s latest Electric Vehicle Outlook, the sales peak of the internal combustion engine (ICE) is behind us.
This means global reliance on gas is slowly being reduced.
Now, sales of electric vehicles (EVs) are surging due to a combination of policy support, improvements in battery technology, more charging infrastructure, and new compelling models from automakers.
It’s an exciting step forward on the journey to a net-zero future.
Why is this generation-defining?
Transportation accounts for around one-fifth of global CO2 emissions, which is significant.
- Meanwhile, road travel accounts for three-quarters of transport emissions.
- Most of this comes from passenger vehicles, namely cars and buses.
With this in mind, it is integral that innovation continues to serve up new opportunities for movement.
The shift towards the electrification of the automobile industry is mission-critical.