PARIS: Emerging markets switching from petrol and diesel engines to electric vehicles (EVs) could save $250 billion annually and slash expected growth in global oil demand by as much as 70%, an industry analysis showed Friday.
As more and more nations such as China and India look to grow their electic fleet, they are in turn reducing reliance on imported oil, with EVs forecasted to soon be cheaper to make and run than their fossil-fuel-fired cousins.
An analysis of EV cost trends by industry watchdog Carbon Tracker found that a switch to EVs could save China — a world leader in the technology — $80 billion each year by 2030.
Increased EV production would…
