This post was co-authored by Brad Thompson and Nicole Candelori.
“Disruption” is a term that tends to be used casually when attempting to describe an industry or technological change on the horizon. Although the term may be overused in many contexts, it is hard to formulate a better word to describe the looming disruption that is certain to emanate from the increased adoption of electric vehicles (EVs).
There are numerous projections as to the anticipated volume and rate of movement away from internal combustion engines (ICEs) and towards EVs. According to one of those projections – a 2018 Bloomberg New Energy Finance report – global EV sales are expected to increase almost tenfold in just eight years: from 1.1 million in 2017 to 11 million in 2025, and later to 30 million in 2030. [1] Regardless of whether this forecast proves to be accurate on the timeline predicted, one trend line is undeniable: EVs are coming, and at some point relatively soon, the ICE will soon become a dying breed of vehicle transportation on the road. Continue reading “The Coming EV Revolution”