INTHEBLACK October 2021 - Magazine - Page 10
A NIO EP9 car is on
display during the
Shanghai Pudong
International
Automotive Exhibition
in October 2020.
EVS RACE
AHEAD
ELECTRIC VEHICLE (EV) SALES ARE
ACCELERATING IN THE US, CHINA AND
EUROPE. NEW RESEARCH FROM EY
PREDICTS THEY WILL OUTSTRIP ALL
OTHER ENGINES FIVE YEARS SOONER
THAN PREVIOUSLY EXPECTED.
The analysis shows that, by 2045, non-EV
sales will shrink to less than 1 per cent of
overall vehicle sales. In terms of EV sales
volumes, Europe is expected to lead the way
until 2031, with China taking the lead from
2032 to 2050.
Randall Miller, EY’s global advanced
manufacturing and mobility leader, says
changing consumer attitudes, ambitious
climate-focused regulations and technology
evolution are changing the landscape of
vehicle buying.
“While the automotive industry has begun
to more fully embrace the move towards
electrification, the impact of this seismic shift
is arriving sooner than many expected,” he
says. “This new outlook also has implications
for governments and energy industries
in terms of infrastructure and electricity
generation and storage, and forward-looking
organisations are already using this data to
help ensure a smooth transition to this new
EV-dominated market, which will be here
much sooner than expected.”
READ THE REPORT HERE
10 ITB October 2021
GET
SMART
OCTOBER 2021
COMPILED BY SUSAN MULDOWNEY