BHP polishes EV penetration forecast

Mining major BHP has polished its forecast for the uptake of electric vehicles (EVs) and what impact the shift to electric mobility will have on the copper and oil markets over the coming decades. The diversified mining company, which last week reaffirmed its commitment to supply the EV markets, has raised its ‘low case’ expectations for the market share of EVs to at least 7% of the light vehicle fleet by 2035 and 27% by 2050. This is up from the miner’s previous estimate of at least 5% and 21%, respectively.