It’s obviously a thought experiment, since right now EVs have close to just 1 percent market share worldwide. We’re still years away from EVs even hitting double-digit demand on a global basis, and the entire supply chain is built around the internal combustion engine, anyways. At the same time, however, as Visual Capitalist’s Jeff Desjardins notes , the scenario is interesting to consider . One recent projection , for example, put EVs at a 16 percent penetration by 2030 and then 51 percent by 2040. This could be conservative depending on the changing regulatory environment for manufacturers – after all, big markets like China, France, and the U.K. have recently announced that they plan on banning gas-powered vehicles in the near future. The Thought Experiment We discovered this “100 percent EV world” thought experiment in a UBS report that everyone should read. As a part of their UBS Evidence […]