Bloomberg New Energy Finance thinks Electric Buses will Surge Even Faster Than Conventional Electric Vehicles

The supply of cobalt has emerged as a potential risk to the pace of growth in electrified transport over the next few years; especially for electric buses.

London and New York, May 21, 2018 – The electrification of road transport will move into top gear in the second half of the 2020s, thanks to tumbling battery costs and larger-scale manufacturing, with sales of electric cars racing to 28%, and those of electric buses to 84%, of their respective global markets by 2030.

The latest long-term forecast from Bloomberg New Energy Finance (BNEF) shows sales of electric vehicles (EVs), increasing from a record 1.1 million worldwide last year to 11 million in 2025, and then surging to 30 million in 2030 as they establish cost advantage over internal combustion engine (ICE) cars. China will lead this transition, with sales there accounting for almost 50% of the global EV market in 2025 and 39% in 2030.

The number of ICE vehicles sold per year (gasoline or diesel) is expected to start declining in the mid-2020s, as EVs bite hard into their market. In 2040, some 60 million EVs are projected to be sold, equivalent to 55% of the global light-duty vehicle market. ‘Shared mobility’ cars will be a small but growing element.

Utah State University has demonstrated a first-of-its-kind electric bus that is charged through wireless charging technology. The Aggie Bus, shown here in USU's Advanced Charging Bay, achieved several significant milestones. It is the first ...

Moving e-buses forward in sales will be even more rapid than for electric cars, according to BNEF’s analysis. It shows electric buses in almost all charging configurations having a lower total cost of ownership than conventional municipal buses by 2019. There are already over 300,000 e-buses on the road in China, and electric models are on track to dominate the global market by the late 2020s.

For the entire post, May 21, 2018

Written by greenlivingguy

The Green Living Guy, Seth Leitman is a green living expert, celebrity and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and a Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow.

Comments are closed.