One in six cars worldwide in 2020 must be electric
According to a recent study by the World Energy Council (WEC), more than 16 percent of vehicles sold worldwide in 2020 will have to be powered by electricity to meet existing emissions standards. In comparing emissions-reduction targets for the world’s three largest auto markets (United States, China and the Europe Union), WEC concludes that “larger volumes of electric-car sales will be needed to plug a gap between fuel-economy goals and improvements that can be realistically expected from internal-combustion engines.”
In the United States, the gap translates to 900,000 vehicles, or 11 percent of 2020 new car sales. Currently, only California has adopted a zero-emissions vehicle requirement. WEC cautions that significantly increasing electric car sales, even with hefty incentive programs, will be difficult due to concerns over cost and range.
Source: Cooperative Finance Corporation