Electric Vehicles

Introduction

Electric mobility is one of the most prevalent trends in the automotive industry right now. While the vast majority of cars sold in markets like the US, China and the EU are still using combustion engines [3], current trends indicate a growing relevance of EVs in the following decade. For instance, in the European Union, the number of available electric car models has doubled in the last few years and is expected to increase by another 50% by 2023 [1]. Furthermore, many traditional car makers have set goals to phase out combustion cars completely by the end of this decade [2]. Overall, this indicates a strategic shift from combustion engines to electric vehicles.

Sources

[1] Electric surge: Carmakers’ electric car plans across Europe 2019-2025. (2019, July 18). Transport & Environment. https://www.transportenvironment.org/discover/electric-surge-carmakers-electric-car-plans-across-europe-2019-2025/

[2] Lekach, S. (2021, March 18). Every carmaker that's truly going all electric to compete with Tesla. Mashable. https://mashable.com/article/traditional-carmakers-going-all-electric-vehicles

[3] PwC. (2021). Electric vehicle sales review Q2-2021. https://www.strategyand.pwc.com/de/en/insights/2021/electric-vehicle-sales-review-q2.html