EV Sales Growth Cools But Some Markets Still Run Hot

Switched On

This year has been a mixed bag for electric vehicles. After EV sales hit new highs in 2023, some automakers have now revised down their near-term targets, citing falling demand. While this may have generated headlines, the overall market offers a more nuanced image, with different segments outperforming others, and growth in developing economies starting to pick up pace.

On today’s show, Dana is joined by BloombergNEF’s Head of Electric Vehicles, Aleksandra O’Donovan, and Head of Advanced Transport and Energy Storage, Colin McKerracher, to talk about findings from this year’s Long-Term Electric Vehicle Outlook. Together they discuss the slowdown in EV sales seen in some regions, the collapse in Chinese battery prices and its effect on the wider market, and the rise of electric commercial vehicles.

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Electric Vehicle Outlook 2024 - https://about.bnef.com/electric-vehicle-outlook/

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