Shift to electric vehicles will have far-reaching impact, IMF says
electric vehicles will have «far-reaching» impacts on investment, production, international trade and employment, the International Monetary Fund said on Tuesday as part of its update to global economic growth forecasts.
The analysis was included in the IMF's latest World Economic Outlook, which was released as policymakers meet at the IMF and World Bank annual meetings this week to discuss efforts to boost global growth, deal with debt distress and finance the green energy transition.
«The rising adoption of electric vehicles represents a fundamental transformation of the global automotive industry. It will have far-reaching consequences,» the IMF said.
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The move toward EVs has accelerated in recent years and is seen as a key way to help countries achieve climate goals.
In 2022, transportation accounted for 36% of greenhouse gas emissions in the U.S., 21% in the European Union, and 8% in China, the IMF said.
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