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6/19/2018 Electric Vehicles on the Road Are Set to Triple in Two Years-Bloomberg <br /> China United States Europe <br /> — - - --- - -- -- 1.5M cars <br /> 1.0M <br /> — — 0.5M <br /> ELI 11111 <br /> 2013 2014 2015 2016 2017 <br /> Source:IEA <br /> 2. EVs will displace lots of oil from the market <br /> Electric cars run on batteries charged by power plants, instead of on gasoline or diesel fuel. With an <br /> estimated 130 million light-duty vehicles expected on the world's roads by 2030, the IEA estimates <br /> about 2.57 million barrels of oil per day won't be needed. That's about as much as Germany uses each <br /> day. Last year, the global EV fleet displaced 380,000 barrels a day of demand, about half of what <br /> Belgium consumes. <br /> The IEA's estimate is more punchy than Bloomberg New Energy Finance's expectation that 2.23 <br /> million barrels per day will be displaced from the market by electric vehicles by the end of the next <br /> decade. <br /> For BNEF's report on electric cars and the oil market, click here. <br /> 3. Governments will have to find new sources of tax revenue <br /> Governments around the world may lose out on $42 billion in tax revenue from road fuel sales by <br /> 2030 in the IEA's central scenario. In the report's most aggressive forecast for EV uptake, it was as <br /> high as$92 billion. <br /> Last year, China's fuel tax revenue was already cut by$2.6 billion because of the growing share of <br /> electric vehicles on the country's roads, the IEA said. <br /> 4. At least 10 more giant battery gigafactories will be needed <br /> Demand for batteries is expected to rise by a factor of 15 by 2030, largely driven by light-duty vehicles <br /> such as cars and vans. China's burgeoning market is expected to make up half of the world's demand, <br /> https://www.bloomberg.com/news/articles/2018-05-30/electric-vehicles-on-the-road-are-set-to-triple-in-two-years 3/5 <br />