Half of new cars sold by 2040 will be electric - Khaleej Times

There will be three million electric passenger vehicles on the road globally by the end of 2018, and by 2040, over half of new car sales will be electric, according to a Masdar report on transport solutions for future cities. The report titled'Technologies for Future Smart City Transit' was brought out by Masdar in collaboration with Bloomberg New Energy Finance (BNEF) on Wednesday at the Abu Dhabi Sustainability Week. The report predicts that new technologies such as electric and autonomous vehicles, the Internet of Things, data analytics, blockchain and'smart roads' will provide the building blocks to revolutionise urban transport over the next two decades. And countries with a relatively new urban transport network, such as the UAE and other Gulf states, may have an advantage over other countries because their transport infrastructure is newer and less sprawling - meaning it is easier to update and integrate with emerging digital technologies. Yousef Baselaib, executive director of sustainable real estate at Abu Dhabi Future Energy Company (Masdar), said: "Urban transport is reaching a crossroads as emerging technologies come together, placing us on the cusp of a step-change which could revolutionise the sector, making it safer, more efficient and environmentally sustainable. The Middle East is well placed to benefit from these developments but achieving these ambitions will require major investment over the next few decades. It will also be essential for the public and private sectors to work together to agree technology standards which govern the market and prioritise innovation and technology leadership."