Many suppliers that provide components for vehicles powered by internal combustion engines may face a significant threat if they cannot adapt. Indeed, PwC analysis shows that EVs may represent approximately 14% global new vehicle sales in Europe and China by 2025 - up from 1% in 2017. Even if some markets, such as the U.S., remain heavily ICE-focused in the near term, the global shift to EVs should be top of mind for suppliers everywhere. These investments will drive sourcing decisions in the years ahead.ĭoes electrification have suppliers on a collision course?Īdoption of EVs will have a profound impact on the automotive supply chain. They have have spent $90 billion in EV-focused research and development, and additional spending is a certainty, according to an analysis by Reuters. Auto companies continue to invest heavily in the technologies that will power the vehicles of tomorrow, even though they are unlikely to see returns on those investments anytime soon. But due to the global nature of the automotive supply chain, OEMs and their suppliers should prepare for the shift toward EVs and away from ICE vehicles regardless of where they are based.Įven though the road to mainstream EV adoption may be lengthy, long vehicle development cycles and lead times mean that important decisions and investments are already being made.
than Europe and China, we also forecast that adoption there will lag behind somewhat as well. Because we expect this to occur later in the U.S.
Impact vehicle library drivers#
Notwithstanding these incentives, our view is the main drivers of sustainable EV adoption will be economic rather than regulatory, and only when parity in total cost of ownership is achieved will EVs begin to make up a significant share of new vehicle sales. To help encourage adoption, the Chinese government offers generous subsidies that averaged $15,000 per vehicle in 2016. For its part, China, the world’s largest automobile market, will begin requiring at least 10 percent of new car sales be fully electric or plug-in hybrid starting in 2019. England and France both intend to ban the sale of fossil fuel-powered vehicles by 2040, and Germany is offering sizable financial incentives to prod consumers to purchase EVs. America Uruguay Uzbekistan Venezuela Vietnam Zambia Zimbabwe eSwatini/SwazilandĮurope and China will lead the way on EV adoption. Rep.) Costa Rica Croatia Cyprus Czech Republic Côte d'Ivoire Denmark Dominican Republic Ecuador El Salvador Equatorial Guinea Estonia Finland France Gabon Georgia Germany Ghana Gibraltar Global Greece Guatemala Guinea Honduras Hong Kong SAR, China Hungary Iceland India Indonesia Interaméricas Ireland (Republic of) Isle of Man Israel ישראל Italy Jamaica Japan Kazakhstan Kenya Kosovo Laos Latvia Liberia Liechtenstein Lithuania Luxembourg Macedonia Madagascar Malawi Malaysia Maldives Malta Mauritius Middle East Region Middle East Bahrain Egypt Iraq Jordan Kuwait Lebanon Libya Oman Qatar Saudi Arabia United Arab Emirates West Bank Gaza Moldova Mongolia Montenegro Mozambique México Mexico Namibia Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Nigeria Norway Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Romania Rwanda Senegal Serbia Singapore Slovakia Slovenia South Africa South Korea Spain Sri Lanka Sweden Switzerland Taiwan 臺灣 Tanzania Thailand Trinidad and Tobago Turkey Türkiye Uganda Ukraine Україна United Kingdom UK United States US USA U.S.
Afrique Francophone Albania Andorra Angola Argentina Armenia Australia Austria Azerbaijan Bahamas Barbados Belgium Bermuda Bolivia Bosnia and Herzegovina Botswana Brasil British Virgin Islands Brunei Bulgaria Cambodia Cameroon Canada Cape Verde Caribbean Cayman Islands Central and Eastern Europe Chad Channel Islands Chile China Colombia Congo (Brazzaville) Congo (Dem.
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