All new cars sold in Europe will be electric within less than two decades, driven by government support, falling battery costs and economies of scale, a Dutch bank has predicted.
However, ING warned that with battery-powered vehicles accounting for 100% of registrations in 2035 across the continent, European carmakers would lose out to their rivals in the US and Asia who already lead on battery production.
The forecast is much more aggressive than most other projections, such as the UK’s National Grid which on Thursday said it expects 90% of new cars in Britain to be electric by 2050.
France’s commitment last week to banning new petrol and diesel car sales by 2040 suggests it also thinks the roll-out of electric vehicles will be slower than ING’s report expects.
However, the bank said that it believed pure electric cars would “become the rational choice for motorists in Europe” sometime between 2017 and 2024.
Well whichever of these is the most accurate they all seem to agree that gasoline powered vehicles are about to go extinct, and that electric cars are the wave of the future.
Now if only America can emerge from under the influence of big oil and start working toward a similarly progressive policy.
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