In the News

Electric Vehicles Expected to Comprise 31% of the Global Fleet by 2050

March 9, 2022

The U.S. Energy Information Administration (EIA) predicts a one percent per year growth until 2050 for light-duty electric vehicles (LDV). LDV is defined as “passenger and fleet cars and trucks with a gross vehicle weight rating of 8,500 pounds or less.” This segment is expected to increase from today’s .7% to 31% by 2050!

These predictions are based on current policies and data, so could hold accurate if no dramatic changes occur. However, determining specific developments and how the sector will evolve over time is yet to be seen.

·     There are approximately 1.31 billion LDV vehicles globally, and 2.21 billion expected by 2050

·     The global gas and diesel LDV fleet is projected to peak in 2038

·     China remains the largest global automotive market for all sales

·     Norway has the most electric cars per capita, with EVs making up almost 75% of new car sales in 2020

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Disclaimer: In the News blog posts are Doering's take on the best content and the latest news in the Fleet Management Industry. Doering did not write the original source article.