More electric cars than expected. And sooner
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The boom in electric cars throughout the world will be upon us five years sooner than expected.

Ernst & Young forecast that by 2033 more electric cars will be sold than petrol vehicles. And in Europe, this is likely to happen already in 2028 – in China by 2033, in the United States by 2036. By 2045, sales of cars with internal combustion engines will make up 1 % of the total.

    European governments are actively promoting electric transport while aiming at the transition to zero emissions. This means that taxes applied to petrol cars will rise.

    The United States, under current President Joe Biden, will catch up to the European or Chinese markets, but it will take longer, analysts suggest.

    Experts say big carmakers are not only expressing interest in electric vehicles, but are also setting fixed deadlines for proceeding with their manufacture. Tesla is not alone in this market — others are fast catching up.

     Companies are issuing ever more optimistic forecasts about sales. Volkswagen, for instance, expected record demand this year for non-traditional cars.

    And governments are supporting electric vehicles with subsidies. India, for instance, intends to offer subsidies to owners of electric vehicles and similar measures are already in force, or have been for some time in the United States, China, European and other countries.

    In India, which intends to reduce carbon emissions by 600,000 tonnes annually, subsidies are to be in effect for four years. The country plans to promote Gujarat state as a site for production of electric vehicles.

    India is the world’s fifth largest producer of cars and that means that as a result of such policies it could become a world leader in electric vehicle production.


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July 2021