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Battery over fossil fuels: EVs may make up half of global car sales by 2040

Predictions are that battery-fueled electric cars will outsell those that run on gasoline by 2040

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A car is parked at a charging point for electric vehicles in London, Britain (Photo: Reuters)

Mark Chediak | Bloomberg
Three weeks ago, a US agency sent the clearest signal yet that fossil fuels’ days are numbered.

True enough, the carbon-burning economy has been declared to be on its death bed umpteenth times before. But this came with a time frame related to the ultimate killer: the battery. The Federal Energy Regulatory Commission ruled that so-called energy-storage companies such as Tesla Inc. and AES Corp. can compete against traditional power plants in US wholesale markets by the end of 2020.

“This is a watershed event,” said Joel Eisen, an energy law professor at the University of Richmond, not unlike the time when