Electric wave: EVs to dominate sales 5 years sooner than expected

Electric vehicle (EV) sales in the US, China and Europe will outstrip all other engines five years sooner than previously expected, said consultancy firm EY in a new study.

Accordingly, EY deployed its ‘Mobility Lens Forecaster’, an artificial intelligence (AI) powered forecast modelling tool that provides an outlook for the supply and demand of mobility products and services through 2050 to derive these results.

The latest predictions show that by 2028 EV sales in Europe will surpass those of other powertrains, a trend that will be repeated in China by 2033 and in the US by 2036.

Besides, the analysis shows that by 2045, non-EV sales will shrink to less than 1 per cent of overall sales.