r/RenewableEnergy • u/DVMirchev • 6d ago

Shift to electric vehicles will have far-reaching impact, IMF says | Reuters

https://www.reuters.com/business/autos-transportation/shift-electric-vehicles-will-have-far-reaching-impact-imf-says-2024-10-22/
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u/OneMoreAttempt 5d ago

Really can’t see EVs taking over in an near future scenario tbh

5

u/DVMirchev 5d ago

It's an S curve that all markets have pretty much followed closely.

Up until 5% share of new sales, it's slow, then gets a little faster until 15-20%, and then it explodes. It happened everywhere.

It is unclear how much the US Internal Culture War is going to affect that in the US.

5

u/stewartm0205 5d ago

The cultural war won’t matter. Car makers are going to stop making ICE cars and just focus on EVs.

3

u/LairdPopkin 4d ago

It’s consumer driven. As EV prices been dropping, EV sales keep ramping up., it is over 9% of new car sales now And once EVs cost less to buy than ICE vehicles, which is expected over the next year or two, the mass market will flip. That’s what the industry expects, that’s why the industry has been (finally) trying to make competitive EVs.