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A number of European cities such as Oslo, Trondheim and Gothenburg also have electric buses in operation.

Meanwhile, demand for cobalt and lithium is surging.

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The Chinese city of Shenzhen is leading the pack with an all-electric bus fleet.

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The IEA’s estimate is more punchy than other forecast that 2.23 million barrels per day will be displaced from the market by electric vehicles by the end of the next decade.

Governments will have to find new sources of tax revenue and may around the world may lose out on over €36bn in tax revenue from road fuel sales by 2030 in the IEA’s central scenario.

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