Despite the Koch brothers' best efforts, it looks like gas guzzlers are on the way out. Sales of electric vehicleswill surpass those using internal combustion engines by 2038, a new analysis has found."This is economics, pure and simple economics," BNEF's lead advanced-transportation analyst Colin McKerracher said. "Lithium-ion battery prices are going to come down sooner and faster than most other people expect."
The report's bold forecast was also bolstered by surging investment in lithium-ion batteries, higher manufacturing capacity at companies like Tesla Inc. and Nissan Motor Co., as well as rising demand for EVs in China and Europe.
BNEF admitted that its report is the "most bullish to date and is more aggressive than projections made by the International Energy Agency."
Here are other notable projections for the booming category, according to BNEF: