Are Electric Vehicles Near a Tipping Point?
Oil consumption continues to rise in the U.S. and around the world, but as electric vehicles keep growing as a percentage of vehicle sales, there will ultimately be a tipping point on multiple fronts. The first will be manufacturers investing in more EVs to ultimately overtake internal combustion engines, which is happening today from Tesla (NASDAQ: TSLA) to General Motors (NYSE: GM) to Porsche.
The bigger tipping point will be a peak in oil consumption that the world will (likely) never look back from. We don't know when peak oil will happen, but given the cost reduction of EVs and the focus on reducing emissions around the world, it's only a matter of time.
Image source: Tesla.
Source Fool.com
