Electric vehicles may control half of major markets by 2030, auto execs predict

Keith Naughton
Bloomberg

Electric vehicles will account for about half of auto sales in the world’s major markets by 2030 as sticker prices reach parity with gasoline-fueled cars, according to a survey of automotive executives.

EVs will make up 52% of the U.S., Japanese and Chinese markets and 49% of Western Europe, according to average estimates in the survey of more than 1,000 global automotive leaders released Tuesday by consultant KPMG. The significant uptake from less than 10% of the global market now will be driven by battery-powered models achieving a cost equal to vehicles propelled by traditional internal combustion engines, the executives predicted.

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