Electric Vehicle Growth Could See Oil Demand Peak By 2030

Electric Vehicle (EV) adoption is an increasing threat to oil demand, which could plausibly peak before 2030. This is not our core scenario, but developments in 2017 show how technological changes and greater product awareness could lead to annual sales of 10 million battery-powered EVs by 2025. Content in this report includes:

  • Overview- Sectors Affected by Battery Transition
  • Forecasts for EV Adoption have Accelerated
  • Extreme Thought Experiment for Adoption Becomes Plausible
  • Scaling EV Adoption’s Impact on Oil Demand
  • Passenger Vehicles Only Part of Story
  • Battery Materials Constraints Probably Surmountable