Every year, BloombergNEF’s team of analysts pauses to reflect on what’s happened in our industry and make some predictions on what might be in store next. Each year presents its own challenges, and 2023 is no exception, with economic uncertainty riding high, geopolitical tensions rising and the policy landscape shifting.
Here are the three things expected for the EV market this year, pulled from a report by Bloomberg:
Electric vehicle sales break records again, but the pace of growth slows
We expect EV adoption to continue to rise in 2023, but at a slightly slower pace than the last two years, which saw sales jump from 3.2 million in 2020 to more than 10 million in 2022. We expect 13.6 million plug-in passenger vehicle sales in total for this year, with around 75% of those being fully electric.
