Electric car market predicted to overtake traditional vehicles
By 2050, every four out of five cars will be battery-electric, which is what analysts at Morgan Stanley predict. They also expect electric vehicles (EVs) to surpass those of traditional vehicles by 2038, while the global fleet of EVs is expected to surpass one billion by 2047. The World Wide Economic Forum sums up how this exponential increase will creep up on us with this analogy.
In the middle of the stadium, there are drops of water falling at an increasing rate. In the first minute a single drop of water falls, in the second minute there are two drops of water added, and in the third minute, there are four drops of water, and so on. The rate doubles each minute... For the first 30 minutes, not much seems to happen – there is a growing puddle, but it’s not likely something you can see from the very top seat. After 45 minutes the stadium is still 93% empty – but by 49 minutes, the entire stadium is full of water.
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