In its 2019 EV Outlook, Bloomberg New Energy Finance (BNEF) gives an overview of where things stand and where they are heading in the electric vehicle (EV) market, both in Europe and globally.
The report predicts that by 2040, 57% of global new passenger vehicle sales will be EVs, and these vehicles will then make up 30% of the global passenger vehicle fleet. The report also foresees Europe becoming the second largest market for EVs in the 2020s, behind China.
This data shows it is time for policymakers to prepare for the growing EV market which will lead to a higher demand for certain resources that are vital for EV technology, such as copper.
Metal Tiger Plc (LON:MTR) is a London Stock Exchange AIM-listed investing company primarily focused on undervalued natural resource opportunities.