2023-04-26 07:30:34
Published on : Modified :
Electric car use will have implications for global oil demand. This is what the International Energy Agency observes. The IEA, which has just published a report on the underlying trend towards the electrification of the vehicle fleet.
The electric car is on the rise. Last year, more than 10 million vehicles were sold worldwide. A booming market that is expected to grow by 35% in 2023.
The electric car should represent this year 18% of the global automotive market. China dominates the sector, thanks to its inexpensive models which are fond of emerging markets.
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Soon 5 million barrels per day saved
Nearly two out of three electric cars sold in the world are Chinese, and the world battery champion, CATL, is also Chinese. China controls the manufacturing process from A to Z, while the vast majority of its power plants run on coal.
Not all that green. Environmentalists will find comfort in the fact that this explosive growth of the electric car is still eroding global demand for oil. A saving of 5 million barrels per day expected by 2030, says the International Energy Agency.
► The report of the International Energy Agency
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