WATCH: Elon Musk Predicts That It Will Take 30 to 40 Years For You To Be Forced Into An EV

During the recent 2021 Annual Meeting of Stockholders Tesla's CEO Elon Musk noted that it will take a few decades until the world will switch entirely to battery-electric vehicles.

The main point is that the global vehicle fleet stands at about 2 billion units, and not even 1% is all-electric yet.

That's a gigantic fleet, which will require time to be replaced with battery-electric counterparts. Assuming that 100% of new vehicles would be electric, at 100 million per year, it would still take 20 years from now to replace 2 billion vehicles. This 20-year period might be considered as the age of a vehicle until it finally goes to a junk yard.