The race to control and propagate electric vehicle technology is more than just an American phenomenon; it’s a global affair that’s creating international opportunities and conflicts alike. America, China (the global leader in lithium-ion batteries), the European Union, and other smaller economies are vying for control of a market that’s poised to define the mid-to-late 2020s. BloombergNEF forecasts the EV market to hit $8.8 trillion by 2030, $57 trillion by 2050, and possibly $88 trillion by 2050 if countries adopt EVs faster than anticipated.
