I wonder how happy oil companies would be about this? But maybe...

I wonder how happy oil companies would be about this? But maybe the author of this has NFI?

https://electrek.co/2024/04/22/globalev-sales-are-robust-more-than-1-in-5-cars-sold-in-2024-will-be-electric/

Rising EV sales are set to remake the global auto industry and significantly reduce oil consumption for road transport, according to the new edition of the IEA’s annual Global EV Outlook, released today.

The latest IEA Outlook report asserts that global EV sales are set to remain “robust” in 2024, reaching around 17 million by the end of the year. In Q1, sales grew by about 25% year-over-year – similar to the growth rate seen in the same period a year earlier but from a larger base. The number of EVs sold globally in Q1 2024 is roughly equivalent to that in all of 2020.

In 2024, electric car sales in China are projected to jump to about 10 million, accounting for about 45% of all car sales in the country. In the US, roughly 1 in 9 cars sold are projected to be electric. In Europe, despite a generally weak outlook for passenger car sales and the phase-out of EV subsidies in some countries, EVs are still set to represent about 1 in 4 cars sold.

This growth builds on a record-breaking 2023. Last year, global electric car sales soared by 35% to almost 14 million. While demand remained largely concentrated in China, Europe, and the US, growth also picked up in some emerging markets such as Vietnam and Thailand, where electric cars accounted for 15% and 10%, respectively, of all cars sold.

The continued momentum behind electric cars is clear in our data, although it is stronger in some markets than others. Rather than tapering off, the global EV revolution appears to be gearing up for a new phase of growth.