Electric vehicle sales could reach 33% globally by 2028 and 54% by 2035, as demand accelerates in most major markets, consultant AlixPartners said on Wednesday.
\nEVs accounted for less than 8% of global sales last year, and just under 10% in the first quarter of 2022.
\nTo support that demand, automakers and suppliers now expect to invest at least $526 billion on EVs and batteries from 2022-2026, the firm said at its annual Global Automotive Outlook briefing. That is more than double the five-year EV investment forecast of $234 billion from 2020-2024.
\nThose higher investments “have now made EV growth inevitable,” according to Mark Wakefield, co-leader of the firm’s automotive practice.<\/p>\n","protected":false},"excerpt":{"rendered":"
Electric vehicle sales could reach 33% globally by 2028 and 54% by 2035, as demand accelerates in most major markets, consultant AlixPartners said on Wednesday. EVs accounted for less than 8% of global sales last year, and just under 10% in the first quarter of 2022. To support that demand, automakers and suppliers now expect to invest at least $526 billion on EVs and batteries from 2022-2026, the firm said at its annual Global Automotive Outlook briefing. That is more than double the five-year EV investment forecast of $234 billion from 2020-2024. Those higher investments “have now made EV growth […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-500237","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/500237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=500237"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/500237\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=500237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=500237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=500237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}