How should we best think about that number? One way is to compare it to global electricity demand, which will be somewhere around 28,000 TWh this year, so EVs will add around 0.2 per cent to the total. Looking at this another way, the global passenger EV fleet consumes a similar amount of electricity as Singapore.
There, EVs are adding around 1.4 per cent to total electricity demand. That’s still small, but Norway is a special case. It has very high per-capita electricity consumption because it’s cold, there’s a lot of electric heating, and a lot of electrified industrial processes, so the denominator is big.Article content
In the first case, which we dubbed the Economic Transition Scenario, battery-electric vehicles represent three-quarters of global passenger vehicle sales by 2040. In the Net Zero Scenario, they’ve almost completely taken over the market in the early 2030s. Global electricity demand will be somewhere around 28,000 TWh this year—EVs will add around 0.2 per cent to the total
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