They will capture a third of the market by 2028.
On site pages Reuters AlixPartners statistics on the structure of the primary automotive market appeared. The expansion of electric vehicles inevitably increases their share in the segment of new vehicles, according to the results of last year, electric vehicles already occupied 8% of the global market, and according to the results of the last quarter, their share increased to 10%.
Image Source: Tesla
According to analysts, in the period up to 2026 inclusive, market participants will invest at least $526 billion in the production of electric vehicles and traction batteries for them. As of May of this year, the cost of materials and raw materials for the manufacture of an average electric car has risen to $8255 compared to $3662 for a car with an internal combustion engine. Those of the automakers who previously produced vehicles with internal combustion engines, by 2030 will spend at least $ 70 billion on business transformation in aggregate, according to experts.
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This year, according to the authors of the forecast, the shortage of components will prevent the production of more than 79 million passenger vehicles, and even an increase in production to 95 million vehicles by 2024 will occur against the backdrop of continued shortages. In the primary market, electric vehicles will take a share of 33% by 2028, and already in 2035 they will form about 54% of the global market. Some countries will ban the sale of new ICE cars by then, although things may change against electric vehicles.