We often talk about how quickly the freight train that is the massive EV movement has been gaining steam over the last few months. But even as more and more governments and manufacturers around the world are buying into the future of vehicles, mainstream consumer adoption will likely take some time.
So, to truly see where the worldwide electrification process will be the most prominent in the quickest amount of time, you must look past Tesla and to municipal buses. According to Bloomberg NEF, the share of the global municipal bus fleet that consists of electric vehicles far surpasses that of electric passenger vehicles. This is largely due to the fact that municipalities or even national governments can dictate what buses can be bought for the use of cities’ public transport networks.
This is exactly what happened in China which is home to 98% of the world’s electric buses. More than 500,000 have been introduced to Chinese streets in a coordinated effort by the Chinese government, while very few are in operation in other countries.