Abstract:

Across the globe, momentum is building to increase adoption of light-duty passenger electric vehicles (EVs) and make traditional vehicles — with an internal combustion engine — go the way of the horse and cart.

Recent developments are promising: More and more countries have plans to phase out traditional vehicles entirely. China, the European Union  and the United States (which together account for over 90% of global EV sales), as well as Costa Rica and Colombia recently announced significantly more ambitious EV sales targets. And major auto manufacturers including GM, BMW, VW, Volvo, Nissan and Audi pledged to invest a combined $150 billion in EV manufacturing and announced plans to launch new EV models throughout the 2020s.