As I already mentioned, fossil fuels will have its uses in industrial applications. But where they can be replaced for renewables at comparable or cheaper long term cost, they will be.
Electric vehciles are not a fad, they are here to stay and will increasingly eat into the market share of ICE vehicles. Its not daydreaming, its reality happening in many countries right now.
Norway: In 2019, over 40 percent of all cars sold in Norway were battery electric (BEV) cars.
Germany: "According to the Federal Motor Transport Authority (KBA), 21,188 electric cars were newly registered in Germany in September, which marks a new record. This was 5,112 more than in August (16,076). Electric cars and plug-in hybrids together reached a market share of around 15% for the first time." ... "all-electric passenger cars (BEV) in Germany reached 8 percent in September".
France: Europe’s 2nd largest auto market, France, saw passenger plugin electric vehicle market share of 10.5% in August 2020, a 4× growth in share from August 2019. Bestsellers this year include the Renault Zoe, Peugeot e-208, and Tesla Model 3.
Netherlands: Over the first eight months of 2020, close to 31,500 new plug-ins were registered in the country - 14% of the total market and 10% belongs to BEVs alone.
The list goes on and on. EVs are here to stay and will only get better with time. Automakers who fail to evolve with changing market dynamics will die, but it will take some time.
