A transition to all-electric cars and trucks by 2035 would save US households trillions of dollars by 2050, concludes a report from researchers at the University of California, Berkeley, Energy Innovation and GridLab.

Combining 100% all-electric car and truck sales by 2035 with a 90% carbon-free power grid would save US consumers $2.7trn between now and 2050, or $1,000 a household a year, say the researchers. The transition would also create two million jobs in 2035 and reduce economy-wide greenhouse gas emissions by 45% by 2030.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
BMW-charging-plug
The charging plug of a BMW at the 2020 Brussels Motor Show. (Photo by Kenzo Tribouillard/AFP via Getty Images)

However, making that transition will require new policies to boost electric vehicle (EV) adoption. Among the measures recommended in the report are strong national vehicle fuel economy and emissions standards, targeted consumer incentives, and investments in an expanded nationwide EV charging network.