Financial advisory and global consulting firm AlixPartners released new projections for the future of the electric vehicle market, predicting sales could reach 33 percent by 2028 and 54 percent by 2035 as demand ramps up in major markets.
EVs attributed for less than 8 percent of global automotive sales in 2021 and are now under 10 percent in the first quarter of sales in 2022.
According to the firm’s annual Global Automotive Outlook briefing, to reach 33 percent of EV sales, automakers and suppliers would have to invest $527 billion in EVs and batteries from now until 2026, which is more than twice as much as the $234 billion five-year expectation for EV investments from 2020 to 2024, Reuters said.
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