Abstract :
When people dream about the future of driving, they picture hundreds of millions of cars humming almost imperceptibly on batteries or fuel cells, their power plants emitting water vapor or nothing. Rarely does petroleum fuel-and foul-the green fantasy. But don´t let that vision distract you from reality. Although the world´s biggest automakers are determined to bring electrified cars to the masses, their real business-and the world´s business-will continue to revolve around the internal combustion engine for decades to come. The signs are accumulating: Morgan Stanley now projects that just 4.5 percent of new cars sold in 2025 will be EVs, sharply down from its previous estimate of 8.6 percent.
