electric vehicle forecast 2030

The electric-vehicle market made big gains in 2019, across multiple car manufacturers — and the industry has even bigger plans for the years to come. Government tax schemes that target company cars put the emphasis firmly on businesses to lead the way in the shift to EVs. Favourable government policies and a change in consumer attitudes were the catalysts, driven primarily by growing concerns about climate change. Do we have the right EV supply chains and order-to-delivery capabilities to realise our promises to customers, especially in the initial launch phase? Can we offer collection and delivery services? Do we have a compelling offering for our fleet customers to gain regulatory and tax benefits? China is one of the leading countries for the mid-priced segment. Corporate solution including all features. The speed of recovery is expected to vary by region. Accessed October 21, 2020. https://www.statista.com/statistics/970998/range-trends-electric-vehicles/, Oliver Wyman, and VDA. Tesla, https://fortune.com/2020/01/07/elon-musk-tesla-gigafactory-shanghai-china-ceremony/. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles. The impact of the investment and targets shown in figure 5 will represent a seismic market shift over the next decade, in terms of availability and affordability of models. How can we incentivise them to sacrifice the long-term, recurring profit of an ICE vehicle sale to support the growth of EVs? Deloitte’s Global Automotive team helps automotive companies execute innovative ideas in exceptional ways. Climate change rose to the top of many European governments’ agendas. How well does our current branding support new EV model (and broader proposition) launches? The combined annual sales of battery electric vehicles and plug-in hybrid electric vehicles tipped over the two-million-vehicle mark for the first time in 2019. JLR, https://www.autocar.co.uk/car-news/new-cars/jaguar-land-rover-invest-%C2%A31bn-three-new-uk-built-evs, https://www.expressandstar.com/news/motors/2020/03/23/jaguar-land-rover-set-to-invest-1bn-in-uk-ev-production/. The Nordics and the Netherlands continued to lead the way; Norway achieved 56 per cent market share, and two of the top ten best-selling cars in Holland were BEVs.3 The United Kingdom and some other countries reported triple-digit growth for the year. Please contact us to get started with full access to dossiers, forecasts, studies and international data. has been saved, Electric vehicles The United Kingdom committed to a target of net zero emissions by 2050, and proposed a ban on the sale of all polluting vehicles by 2035.4 Germany plans to cut greenhouse gas emissions by 40 per cent by the end of 2020, by 55 per cent by the end of 2030 and up to 95 per cent by the end of 2050, compared to 1990 levels.5, Despite the growth seen in 2019, mainstream adoption of EVs has been, so far, hindered by the limited number of models available to the European market and consumer perceptions regarding insufficient charging infrastructure in some regions.6, The outbreak of COVID-19 and national lockdown measures impacted total car sales in Europe, as showrooms closed their doors and manufacturers halted production, but EV sales have held up well in comparison to their internal combustion engine (ICE) equivalents. We are seeing an increasingly important role for corporates to support the transition to EVs, using the three factors highlighted above to their advantage. It outlines what they do and why they do it, identifying the motives for, and barriers to, behavioural change – or lack thereof. The global electric vehicle market is expected to reach $1,299.3 billion by 2030, representing a 2020-2030 CAGR of 19.8%. View in article, Cutting CO2 emissions from passenger cars: Towards a greener future for the European automotive industry, Deloitte, https://www2.deloitte.com/content/dam/Deloitte/de/Documents/consumer-industrial-products/Deloitte-POV-cutting-CO2-emissions-from-passenger-cars.pdf, accessed 1 June 2020. As a result of the COVID-19 pandemic and lockdown measures in place, China saw a 45 per cent decline in passenger car sales in Q1 2020.12 EV sales fell at a faster rate than the total market (by 56 per cent), as consumers stayed home and showrooms closed their doors.13 But the rate of recovery has been swift. This figure is consistently higher among 18- to 34-year-olds, suggesting that Segments B, C, D and E could all demonstrate a significant jump in demand for online services. Since Deloitte last presented a forecast for electric vehicle (EV) sales, in January 2019, the EV market has made great strides, and not just in terms of sales. View in article, Deloitte analysis: Automotive planning solutions, IHS Markit, https://ihsmarkit.com/index.html; EV-volumes.com: The electric vehicle world sales database, https://www.ev-volumes.com/, accessed 16 June 2020. Her experience includes electric and fuel cell mobility, alternative fuels and advanced biofuels, energy storage, automotive value chain and new business models, and behavioural economics. The increasing trend of replacement of fossil fuel based public transport fleet with electric buses will drive the growth of electric commercial vehicles during the forecast period. Companies such as BYD, Smart, and Great Wall Motors are manufacturing comparatively less expensive vehicles. In the past year, some prominent OEMs have announced strategic commitments to EVs (see figure 5). Beyond 2030, we expect the rate of growth in EV sales to slow. The ability of some manufacturers to swiftly accommodate the future of EVs, and trade in their traditional approaches for creative thinking, means that the competitive landscape will likely re-arrange itself accordingly. Then you can access your favorite statistics via the star in the header. As a Premium user you get access to the detailed source references and background information about this statistic. The base year for the report is 2018, and the forecast period is from 2019 to 2030. The answers may help soften the blow COVID-19 is making on the market and/or aid in the recovery.

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