The Rise & Plateauing of EV sales
Posted: Sun Feb 25, 2024 10:18 am
Last year EV sales rose to 14% of total sales.
That means that 86% of vehicles sold included an Internal Combustion Engine.
Tesla was founded 21 years ago & Musk took over 20 years ago.
BYD sells more EVs than Tesla.
Toyota, the worlds biggest vehicle manufacturer has scaled back it's EV plans.
Mazda launched an EV, it sold so poorly they replaced it with a ICE vehicle which sells better.
Last week Mercedes Benz rolled back it's EV program & said they'll pour more effort into ICE R&D.
Their shares ROSE 6% as a result of this announcement.
The state of Ohio does not produce enough electricity to charge the EV trucks were the state to convert all it's trucking to EV's.
It seems to me that EV growth will slow & peak at around 25 to 33% globally.
Obviously, some countries, particularly smaller European countries with advanced infrastructure, may see EVs reach a far higher adoption %.
Remember, in many countries, especially Europe & the UK, EV growth has largely been due to legislative pressure rather than actual market demand.
That means that 86% of vehicles sold included an Internal Combustion Engine.
Tesla was founded 21 years ago & Musk took over 20 years ago.
BYD sells more EVs than Tesla.
Toyota, the worlds biggest vehicle manufacturer has scaled back it's EV plans.
Mazda launched an EV, it sold so poorly they replaced it with a ICE vehicle which sells better.
Last week Mercedes Benz rolled back it's EV program & said they'll pour more effort into ICE R&D.
Their shares ROSE 6% as a result of this announcement.
The state of Ohio does not produce enough electricity to charge the EV trucks were the state to convert all it's trucking to EV's.
It seems to me that EV growth will slow & peak at around 25 to 33% globally.
Obviously, some countries, particularly smaller European countries with advanced infrastructure, may see EVs reach a far higher adoption %.
Remember, in many countries, especially Europe & the UK, EV growth has largely been due to legislative pressure rather than actual market demand.