(dpa) – Full electric vehicles (EVs) are set to rule the roads in the world’s top affluent cities by 2030, according to a thought-provoking report.

The trend is being driven by stricter controls on vehicle emissions in urban areas, coupled to a fall in the cost of the technology and buoyant consumer interest, said the analysis by Bloomberg New Energy Finance.

The authors say that in densely populated, high-income cities like London and Singapore, “electric vehicles could represent as many as 60 per cent of all vehicles on the road by 2030.”

EVs are becoming far more common and leading European manufacturers have announced plans to roll out new electric models. These include Daimler’s premium Mercedes-Benz brand, BMW and Volkswagen.

At the same time, the cost of a lithium-ion battery pack fell 65 per cent from 2010 to 2015, and is expected to drop below 100 dollars per kilowatt-hour over the next decade, research showed.

“Several key mobility trends – electrification, shared mobility, and autonomy are poised to take off,” predicted the report.

The experts warned however of a downside for the automotive sector as attitudes in crowded urban areas change from traditional vehicle ownership to shared models.

The industry “may need to consider moving from using a pure product-ownership model toward providing a range of transportation services,” said the report authors.

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