In fact, the market for electric cars is growing faster than previously thought, as the lithium-ion batteries that power them have become cheaper and more accessible. Electric vehicles are expected to make up 54 percent of the worldwide new car sales by 2040, according to a forecast released Thursday by Bloomberg New Energy Finance. That’s up from 35 percent projected last year by the data firm in its annual outlook, a serious boost for advocates who say the technology is critical to lowering urban pollution and slowing the rate of climate change.

Bloomberg New Energy Finance By 2040, electric vehicles (purple) will make up more than half of new cars sold, though internal combustion engine vehicles (blue) will continue to account for the lion’s share of the global car fleet.

Source: France To Ban All Gas And Diesel Cars By 2040