Elon Musk Sees ‘Almost All Cars’ Going Electric as Gasoline-Only Vehicles Fall Below Half of Global Sales Elon Musk, the CEO of Tesla, SpaceX, PayPal, OpenAI, and Twitter, is a media personality. New York, US - 03 Apr 2025 (Credit: Photo courtesy: IAB Studio on Shutterstock.com) Aniket Verma Fri, October 16, 2026 at 2:31 PM EDT 5 min read TSLA -2.92% MBGL +0.08% POL/USD Trade Tesla on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Tesla Inc. CEO Elon Musk expressed optimism on Wednesday about all future cars being electric after gasoline-only cars dropped below 50% of global new vehicle sales for the first time.
"Gasoline-only" means pure internal combustion engines with no hybrid assistance, plug, or diesel support.
Mobility Global data, as reported by Nikkei, found that the share of gas-engine vehicles shrank 3 percentage points to 49% for the period between January and June. EVs accounted for 17% of all new-vehicle sales.
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Musk said that a major threshold has been passed, anticipating that "almost all cars" will go electric in the future.
Major threshold passed. Almost all cars will be electric in the future. https://t.co/ZGDptzVv6H
The data found that pure gasoline cars declined from 73% of the market in 2021 to 49% in the first half of 2026 — likely the first time they have been a minority since cars became common in the 1920s.
Mobility Global forecasts that EVs will make up more than 30% of total vehicle production by 2030, surpassing hybrids and conventional engine-powered vehicles to become the dominant powertrain.
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Kalshi bettors, meanwhile, price in a 45% chance of EV market share topping 30% by 2030, and a 24% chance they account for half of the car sales.
Chinese carmaker BYD Co. Ltd. surpassed Tesla as the world's largest EV maker for the full year in 2025, though the two companies trade the quarterly top spot back and forth.
Kalshi and Benzinga have an existing data collaboration agreement.
Photo courtesy: IAB Studio on Shutterstock.com
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