Electric Vehicles Could “Save Hundreds of Thousands of Lives”, Reveals a Surprising Prediction for 2035.

Last year, there were many pessimistic views about the electric vehicle revolution, with predictions that electric cars would become increasingly overshadowed by traditional models. However, recently published data from the International Energy Agency (IEA) has shattered those doubts.

The agency estimates that global electric vehicle sales will continue to grow, reaching 17 million in 2024, meaning that on average, one out of every five cars sold will be electric.

With climate change becoming an increasingly pressing issue, the demand for “clean” and affordable electric vehicles is expected to soar. The IEA predicts that electric cars will become a global trend, and by 2035, they estimate that 50% of all cars sold will be electric, cutting down on approximately 6-10 million barrels of oil per day (used for gasoline cars).

According to Forbes, the price gap between electric vehicles and fossil fuel-powered cars, such as gasoline-run vehicles, has narrowed significantly. In fact, many electric cars are surprisingly affordable, coming with attractive incentives for consumers.

Bright Outlook for the Electric Vehicle Market

Each year, the IEA releases a report on the global outlook for electric vehicles. Forbes highly regards these predictions and asserts that the IEA is the “leading authority on energy trends worldwide.”

In the IEA’s opinion, electric vehicle sales in China—the world’s largest auto market—are expected to reach 10 million in 2024, accounting for approximately 45% of all cars sold in the country.

In the United States, the second-largest auto market globally, electric vehicle sales are projected to increase by 20% compared to 2023, accounting for about 11% of total sales. In Europe, the third-largest auto market, a 10% increase in electric vehicle sales is anticipated.

The IEA attributes the growing popularity of electric vehicles to their decreasing costs and improving quality. Sensible policies in the top three auto markets also encourage automakers to make long-term investments in electric cars.

According to Forbes, more than 20 automakers worldwide, accounting for about 90% of global sales, have set electrification targets for their products. In 2022-2023, these companies invested $500 billion in electric vehicle and battery production.

The cost of electric cars is also decreasing due to large-scale production and technological advancements. Most electric vehicles sold in China are cheaper than their internal combustion engine counterparts. Even when the purchase costs are equal, charging an electric car is generally less expensive than filling up a gas tank.

Electric Vehicles: The Way of the Future

Forbes contributor Silvio Marcacci notes that global oil prices are high and subject to price gouging. As a result, he believes that consumers will increasingly favor electric cars to save on fuel costs.

“This is a way to fight back against rising oil prices and break free from high fossil fuel prices. After all, electricity prices are lower than gasoline and have remained stable over time,” Silvio says.

As mentioned earlier, adopting electric vehicles is also a way to protect the environment. Emissions from the tailpipes of internal combustion engines are harmful to human health and can cause serious illnesses such as asthma and cardiovascular diseases.

According to the American Lung Association, approximately 8.8 million people die prematurely each year due to air pollution. A report published earlier this year by the association affirmed that using 100% emission-free vehicles over the next three decades could save more than 100,000 lives.

“We all live near roads. We all drive vehicles. So, from small towns to big cities, cleaning up vehicles will have significant health benefits for communities,” said Paul Billings, Vice President of the American Lung Association.

Sources: Forbes, IEA