S&P Global Ratings identifies market ramifications of electric vehicles, covered by specialist press

By 2025, it is estimated that a quarter of Europe’s light vehicle sales will be electric vehicles (EVs); by then, China’s government is targeting a penetration rate of 20%. S&P Global Ratings’ report asserts that EVs could pose significant market changes for the automotive, oil and gas utilities, and metals and mining industries.

The electrification of transportation could contribute about 1%-4% to total projected load on electric grids globally, while a decline in oil demand may only be a limited risk. Demand for certain commodities including cobalt, lithium, copper, and nickel could also improve.

The report was covered by FuturEnergy and Oil Voice.

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