Will 1 Billion EVs Crash Gasoline Demand?

Will 1 Billion EVs Crash Gasoline Demand?

Vehicle fuel consumption should see a major decline globally, but it won’t happen for a couple of decades.

Last year was big on announcements from automakers, and suppliers, and tech giants regarding electric vehicles, robotaxis, and autonomous vehicles. We also heard from countries like China, India, France, Great Britain, and Norway—all pledging to ban the sale of fossil fuels to power vehicles on their roads.

How will this affect auto sales, gasoline, diesel…?

Morgan Stanley has long sounded the warning bell to the auto industry. A study last year forecasted that electric vehicles will make up 90 percent off all vehicle sales globally by 2050. That would be made up of about one billion battery electric vehicles out on roads worldwide. Read More…

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