McKinsey: Three surprising resource implications from the rise of electric vehicles

Management consulting firm McKinsey & Company highlights the growth of electric vehicles and the implications of that growth. As demand for electric vehicles increases, we must have the affordable, reliable electricity needed to power them.

While EVs accounted for only about 1 percent of global annual vehicle sales in 2016 and just 0.2 percent of vehicles on the road, McKinsey estimates that by 2030 EVs (including battery electric vehicles and plug-in hybrids) could rise to almost 20 percent of annual global sales (and almost 35 percent of sales in Europe).

Continue reading in McKinsey Quarterly.