RPT — ROI — The road to an all — electric car fleet will be bumpier than it looks: Maguire

(Repeats column, no change to text. The opinions expressed here are those of the author, a columnist for Reuters.) By Gavin Maguire LITTLETON, Colorado, Oct 14 (Reuters) — The global shift to electric vehicles might appear unstoppable, but the path there is far from straightforward. Battery electric vehicles will eventually dominate passenger car fleets across every region, according to global risk management firm DNV, and will capture more than 90% share by 2050 in markets ranging from China and Europe to Southeast Asia. That might appear to signal a rapid decline in oil demand for road transport, and merit steep downward revisions in gasoline consumption forecasts across several major regions. However, a closer look at the inventory data for the underlying car fleets suggests the journey away from internal combustion engines (ICE) likely has plenty of twists and turns ahead. The fuel outlook is clouded by the fact that some countries are moving faster than others to replace internal combustion engine cars with EVs, while others are expanding EV fleets alongside sales of conventional cars. Below are six charts that highlight the key trends for electric and combustion-engine fleets