Zero: The Climate Race The extraordinary rise of electric cars in developing countries
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Sep 25, 2025 Colin McKerracher, head of transport at BloombergNEF and an expert in electric vehicle markets, discusses the remarkable rise of electric cars in developing countries. From Nepal to Costa Rica, EV sales are outpacing fossil-fuel vehicles due to plummeting battery costs. Colin explores how this trend impacts global oil demand and highlights emerging markets like Thailand and Vietnam. He also touches on electrification in Africa and how local advocates play a crucial role in this shift. The future of transportation is electric, and it's happening faster than expected!
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Policy Choices Directly Shape EV Markets
- Protecting supportive policy levers matters because incentives and fuel-economy rules strongly influence EV adoption.
- Monitor California's waiver and federal tax credit changes as key risks to U.S. uptake.
China's Q4 EV Volume Outruns US Market
- China will sell more EVs in Q4 this year than the total number of all cars sold in the U.S., showing stark market divergence.
- That export and scale advantage poses competitiveness risks for U.S. automakers if market barriers persist.
Personal Sign Of India's EV Shift
- Akshat describes his father testing EVs for years and finally buying one this year after Indian models improved.
- His cousin also bought a BYD micro-SUV, illustrating shifting consumer choices in India.