From T & E (Transport & Environment)
COP31: EVs are saving the world five times more oil than in 2021.
BEVs now displace 1.2 million barrels of oil a day, compared to 215,000 in 2021. Five years on from COP26 [Glasgow], where leaders pledged to end the era of fossil fuel vehicles by 2040, oil savings from EVs globally are up fivefold.
As electrification takes centre stage at this year’s COP, new T&E analysis shows that current policies put battery electric cars on track to displace roughly 5.8 million barrels of oil a day by 2034. BEVs represent just 4.2% of the global fleet, but now account for 25% of all new car sales worldwide – up 6.6% from five years ago.
Battery electric trucks are at 1% but in some countries exceed 50% of new sales.
Electric buses now make up 5% of the global fleet
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