One in six new cars will be electric by 2025

Established car manufacturers like BMW and Daimler are spending billions in a race to gain market share in the burgeoning electric-car market

Almost every sixth car sold in the world will be electric by 2025, according to a UBS global autos survey released on Tuesday. And if things go the way they have, those cars are more likely to be emblazoned with a Tesla logo than BMW’s.

By the middle of the next decade, global sales of electric vehicles should hit 16.5 million, analysts led by Patrick Hummel said in the report, a 16 per cent increase from the previous estimate. They predict electric vehicles will make up 16 percent of all car sales by then, up from a previous estimate of