In 1957, Morton Grodzins first used the term “tipping point” to describe societal changes. In physics, the tipping point is the point at which an object that was balanced tips over after additional weight has been added to it. In society, it’s the point at which a quick and dramatic shift in behavior occurs. Electric cars are still a small percentage of the global market, accounting for just over 2 million of the 2 billion cars on the roads in 2016, but the market is changing. Morgan Stanley predicted in a recent report that electric vehicles could account for 50% to 60% of global light vehicle sales by 2040. Are we approaching the tipping point for electric cars? What does that mean for energy markets? Source: EKA – Electric Cars: Have We Reached the Tipping Point?
Source: CTRM Center