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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Once 5% of new-car sales go fully electric, everything changes — according to a Bloomberg Green analysis of transitions underway across four continents.
Tesla Inc. electric vehicles parked at charging stations in Beijing.
Source: Bloomberg
New technologies have a tendency to blindside. When color TVs were introduced in the 1950s, for example, they seemed like a flop. The devices were expensive, programming was scarce, and after a decade on the market few homes had one. Then suddenly prices dropped, a ratings war ensued, and in just a few years most US households were watching The Jetsons in its futuristic palette.
A comparable shift is currently underway with electric vehicles, according to a Bloomberg Green analysis of adoption rates around the world. By the end of last year, 31 countries had surpassed what’s become a pivotal EV tipping point: when 5% of new car sales are purely electric. This threshold signals the start of mass adoption, after which technological preferences rapidly flip.