Five years on from Glasgow, EVs have proved the single most effective way to curb oil use, says T&E
• Battery electric vehicles (BEVs) make up about 4.2% of the global car fleet but account for a quarter of all new cars sold worldwide;
• BEVs displace 1.2 million barrels of oil a day (1.2% of global oil consumption), compared to 215,000 barrels a day in 2021;
• BEVs on the road avoid more than 200 Mt of CO2-equivalent a year.
At COP26 in Glasgow, twenty-four countries and a group of leading car manufacturers committed to ending the era of fossil-fuel powered vehicles by 2040 “or earlier”. Five years and two energy crises later, oil savings from EVs globally are up fivefold, new T&E analysis shows. EVs are the single most effective way of cutting oil demand, improving energy security and reducing emissions, says T&E. (....)