Amid much hoopla, the Big Three automakers recently joined President Biden to announce that they would kind of like 40% of the cars they sell a decade from now to be at least partially electrified. It’s a typically timid timeline—most EV experts expect the transition to take place much faster. (Sandy Munro says that, if the majority of new vehicles in the US aren’t electric by 2028, “there won’t be an OEM in North America.”)

A recent article in Bloomberg makes the bold assertion that sales of internal combustion engine (ICE) vehicles have already peaked, so the future of the global auto industry belongs to EVs.

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Report States ICE Vehicle Sales Have Peaked - Long Live The EV

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