Almost half of cars will be EVs by 2050


NFPA 70E Training

Our customized live online or in‑person group training can be delivered to your staff at your location.

  • Live Online
  • 6 hours Instructor-led
  • Group Training Available
Regular Price:
$199
Coupon Price:
$149
Reserve Your Seat Today

Electric Vehicle Outlook 2050 projects 2 billion cars, 40% EVs, as low-carbon fuels, hybrids, biofuels, and renewables scale; Shell, BP, Ford, Nissan, and Tesla drive EV market growth with ethanol and wind power.

 

The Important Points

An industry forecast anticipating 2 billion cars by 2050, with 40% electric, enabled by low-carbon fuels and renewables.

  • 2 billion cars projected worldwide by 2050
  • 40% of fleet expected to be electric vehicles
  • Low-carbon fuels and hybrids bridge near-term demand

 

Royal Dutch Shell PLC expects electricity-powered vehicles to account for as much as 40% of the worldwide car market by 2050, chief executive Peter Voser said.

 

Mr. Voser, speaking at The Wall Street Journal’s ECO:nomics conference in Santa Barbara, said technological improvements and increases in the cost of producing gasoline will give a boost to vehicles that run on alternative power.

"We think between now and 2050, we will go from 1 billion cars to 2 billion cars worldwide," he said. "We think by 2050, roughly 40% of those 2 billion cars will be electric around the world."

In the next 40 years, the market needs low-carbon fuels, more efficient engines and hybrid vehicles, Mr. Voser said.

"I think there will be room and space to develop all of them," he added.

Gasoline demand in developed countries like the United States has started to decline, partly as vehicles running on alternative fuels have entered the market. Companies such as Shell and BP are spending more money on those newer technologies, including for next-generation biofuels.

Automakers such as Ford Motor Co and Nissan Motor Co Ltd are racing to launch electric cars, betting these will be the environmentally friendly transportation of the future. Small players like Tesla Motors already sell electric vehicles.

Mr. Voser said Shell was investing 25% of its research and development budget into renewables, including wind power and biofuels.

Shell has bet big on ethanol by striking a deal with Brazil’s Cosan to create a (US) $21-billion a year ethanol joint venture.

The 50-50 joint venture, with almost 4,500 filling stations nationwide, will better position Cosan and Shell to compete with the two top players in the market, state oil giant Petrobras and Ipiranga, a unit of Brazil’s Grupo Ultra.

 

Related News

Related News

Ontario energy minister asks for early report exploring a halt to natural gas power generation

Ontario Natural Gas Moratorium gains momentum as IESO weighs energy storage, renewables, and demand management…
View more

Project examines potential for Europe's power grid to increase HVDC Technology

HVDC-WISE Project accelerates HVDC technology integration across the European transmission system, delivering a planning toolkit…
View more

Trump's Order Boosts U.S. Uranium and Nuclear Energy

Uranium Critical Mineral Reclassification signals a US executive order directing USGS to restore critical status,…
View more

U.S Bans Russian Uranium to Bolster Domestic Industry

U.S. Russian Uranium Import Ban reshapes nuclear fuel supply, bolstering energy security, domestic enrichment, and…
View more

California Blackouts reveal lapses in power supply

California Electricity Reliability covers grid resilience amid heat waves, rolling blackouts, renewable energy integration, resource…
View more

Cape Town to Build Own Power Plants, Buy Additional Electricity

Cape Town Renewable Energy Plan targets 450+ MW via solar, wind, and battery storage, cutting…
View more

Sign Up for Electricity Forum’s Newsletter

Stay informed with our FREE Newsletter — get the latest news, breakthrough technologies, and expert insights, delivered straight to your inbox.

Electricity Today T&D Magazine Subscribe for FREE

Stay informed with the latest T&D policies and technologies.
  • Timely insights from industry experts
  • Practical solutions T&D engineers
  • Free access to every issue

Live Online & In-person Group Training

Advantages To Instructor-Led Training – Instructor-Led Course, Customized Training, Multiple Locations, Economical, CEU Credits, Course Discounts.

Request For Quotation

Whether you would prefer Live Online or In-Person instruction, our electrical training courses can be tailored to meet your company's specific requirements and delivered to your employees in one location or at various locations.