IMF: Auto industry facing EV learning curve

2 Aug 2017   Electric Cars

The automotive industry may have some retooling to do in order to keep pace with emerging trends for electric vehicles, the International Monetary Fund reported. File photo by Brian Kersey/UPI Aug. 1 (UPI) — The automotive industry may need to play catch up in order to cope with the growth in electric vehicles, a report from the International Monetary Fund found. A review of trends in the electric vehicle market from the IMF found that, in the four years ending in 2015, the pace of growth in EV sales was 120 percent. Using the transition in the 20th century from horse-drawn carriages to fuel-powered vehicles as a benchmark to measure progress, the report found that pace suggests motor vehicles could vanish from markets in advanced economies within the next 20 years. A snapshot from the U.S. Bureau of Labor Statistics finds there are fewer employers working on motor vehicles […]

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