BloombergNEF (BNEF) is out with an aggressive forecast that projects electric vehicles taking up 57% of the global passenger car sales by 2040—slightly higher than it forecast a year ago—and electric buses with 81% of municipal bus sales by the same date. Compared to other major organizations, BloombergNEF continues to hold the most aggressive view on EV adoption. BNEF expects there to be 508 million passenger EVs on the road globally by 2040; including commercial EVs, this brings the BNEF 2040 EV fleet size forecast to about 550 million. BNEF’s Electric Vehicle Outlook 2019 incorporates in the forecast detailed work on the commercial vehicle market. These projections show electric models taking 56% of light commercial vehicle sales in Europe, the US and China within the next two decades, plus 31% of the medium commercial market. Heavy trucks will prove the hardest segment for electrics to crack, with the latter’s […]