Title: McKinsey Electric Vehicle Index: EV Market Trends & Sales | McKinsey
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Growth in the electric-vehicle market has slowed
What is the Electric Vehicle Index?
Expert views on the electric-vehicle sector’s future development
EV market trends vary by region
China
The United States
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Europe
Purchase subsidies juice EV sales
Electric-vehicle makers are debuting new models and boosting sales of existing ones
The supply chain is localizing
Three surprising resource implications from the rise of electric vehicles
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Content: OEMs plan to make a spot landing on the targets. Every gram these companies miss costs the industry about €1.5 billion, but overachieving would tighten their 2030 targets. In the first quarter of 2020, we saw increased momentum on the consumer side for buying EVs, despite the COVID-19 pandemic. Other signs also suggest that the momentum of EVs will be sustained in Europe—for instance, the creation of additional purchase incentives, the timely creation of EV standard operating procedures, and an infrastructure rollout. Given the recent loosening of the US federal emissions regulations, how will the trajectory of the US market and the EV strategies of traditional automakers evolve over the coming years? Russel Hensley (partner, Detroit): Vehicle electrification strategies will remain relatively consistent, despite the uncertainty about current regulations and the ensuing debate between federal and state policy makers. While some automakers may have cut or delayed their EV programs, domestic OEMs must continue their efforts to enhance the average fuel economy of their new fleets, given the large share of light trucks, SUVs, and compact utility vehicles. Many automakers use plug-in hybrid electric vehicles (PHEVs) as a bridge to a fully electric future. How will this technology develop?