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: In light of carbon-dioxide regulation for trucks (such as the European Union’s “–30 percent by 2030” target), each ton in weight and each kilometer in range will improve total costs of ownership for fuel cells relative to batteries. For long-haul trucks, our models show that fuel-cell electric vehicles can break even with battery electric vehicles within the next five years. They will also achieve lower total costs of ownership than diesel before 2030. Markets such as China, Sweden, and the United Kingdom have reacted strongly to EV-incentive changes. Yet customer demand—independent of government subsidies—remains a major concern in the industry. Who is currently buying EVs, and what is required to scale up the market? Timo Möller (partner, Cologne): Early adopters of BEVs appear to constitute a specific segment of consumers, best described as tech-savvy urban people with above-average incomes and a familiarity with online shopping. Beyond first movers, consideration of EVs has significantly increased among consumers over the past few years as they have come to recognize the numerous benefits of EVs. To scale up the market, OEMs should thus systematically try to affirm the consumers’ growing positive attitudes about many aspects of EVs, such as the driving experience and subsidies.