The article discusses the slowdown in electric vehicle (EV) sales and its impact on the world’s progress towards net zero emissions. Key points from the article include:
- EV sales growth is slowing down, with a 21% annual average growth rate expected between 2024 and 2028, compared to 61% between 2020 and 2023.
- Demand for plug-in hybrid electric vehicles (PHEVs) is rising, with BNEF increasing its estimates for PHEV sales through the middle of the next decade.
- PHEVs now sell for virtually the same average price in China as internal combustion engine vehicles.
- Studies have found that PHEVs emit more in real-world driving than in tests used for regulatory compliance and ratings advertised to consumers, which is a concern for their decarbonization-friendliness.
- The global fleet of internal combustion engine vehicles is expected to peak next year, but sales would need to end altogether by around 2038 for the world to get to a completely zero-emission fleet by 2050.