ING predicts the three major hurdles to consumer EV adoption – charge time, range, and price – are overcome by 2024 and by 2035 only passenger EV’s are sold in Europe.

The shift to EV powertrains, which are simpler and requirer fewer parts than ICE powertrains (200 vs ~1,400), would eliminate an important differentiator for European car manufacturers.

ING Research: Electric cars will take over, threatening European car industry