The big picture: How electric buses could change the world

Employees work on the assembly line of the electric bus at a BYD's production base on January 23, 2018 in Xi an, Shaanxi Province of China
BYD bus manufacturing facility in Shaanxi Province, China. Photo: Visual China Group via Getty Images

Electric buses are set to command the bus market worldwide by the late 2020s — and, in 2040, they could make up 80% of the global municipal bus fleet, according to Bloomberg New Energy Finance (BNEF).

Why it matters: While personal electric vehicle penetration has grown more slowly than many advocates hoped, buses are a more practical means of achieving greater levels of implementation across the world. According to BNEF, nearly all electric buses will have a lower cost of ownership than conventional buses by next year.