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The adoption of electric cars is expected to accelerate rapidly in the near future, as consumer demands shift towards the new technology and more government policies seek to address climate change.
The future of mobility is clearly electric, according to a new report from German insurer Allianz Global Corporate & Specialty (AGCS).
The Electric Vehicles R-EV-olution: Future Risk and Insurance Implications Report highlights that the use of electric cars is expected to soar in future as their cost gradually declines, with the choice of available new models likely to double within five years.
World governments see the tranformation in the automotive sector as a solution to global warming which, going forward, will result in a higher demand for greener low-emission vehicles.
The International Energy Agency has predicted there could be more than 100 million electric cars on global roads by 2030 – up from 7 million today – with annual sales in the region of 20 million units.