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The whole world is switching to EVs faster than we realise
And this rapid electrification is not expected to let up, especially in oil-importing countries.
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As with the wave of EVs taking over the Gulf’s oil producers, it’s a sign of a world switching to electric mobility with breathtaking speed.
PHOTO: REUTERS
David Fickling
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There’s a comforting story that oil bulls like to tell themselves to stave off worries about the future: While the privileged few in Europe and California might have lost their minds over electric vehicles (EVs), billions of drivers in the Global South are readying themselves to provide the next wave of petroleum demand.
Those who believe this might want to have a look at the cars and two-wheelers that people are actually buying right now. Far from trailing the rich world in their enthusiasm for battery cars, developing nations are surging ahead.
