Today electric cars make up just about 1% of the passenger vehicle market.

But 2017 has been a monumental turning point for the future of electric vehicles.

Batteries prices have dramatically dropped over the last five years, and consumers are already responding to these price drops. In 2015 sales grew up by 59% from the year before.

The Bloomberg forecast that plug-in hybrids and all-electric vehicles will make up 54 percent of new light-duty sales globally by 2040.

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