RBC predicts 'robust growth' in EVs, 75% market share by 2050
BNN Bloomberg
RBC predicts the electric vehicle market is on the verge of substantial growth, as prices stabilize and charging infrastructure expands.
A new report from RBC Capital Markets found that while battery electric vehicles (BEVs) represent 12 per cent of the global demand this year, demand is expected to increase over the coming decades with improves to issues such as price, charging infrastructure and driving range, along with government policies limiting use of gas-powered vehicles.
“The combination of these vehicle factors means that BEV demand ultimately becomes a consumer-led one,” the report states.
The report projected 75 per cent of global market share for battery electric vehicles by 2050, and some developed nations seeing more than 90 per cent.
