EVs to constitute 25% of global fleet by 2040; can rise to 50% – WoodMac

Global energy research and consulting firm Wood Mackenzie's (WoodMac’s) base case scenario projects electric vehicles (EVs) jumping from 4% of the global fleet today to 25% by 2040. However, if governments boost EV supply chain investment to strengthen resilience to oil market shocks, high fuel prices prompt more consumers to switch to EVs, and EV technologies advance faster than expected, this could fast-track global EV adoption to 50%.
2026-08-14 07:16:00