New Delhi, June 25 | Consultancy firm EY said in a new study that electric vehicle (EV) sales in the US, China and Europe will overtake all other engines five years earlier than previously expected.
Accordingly, EY deployed its ‘Mobility Lens Forecaster’, an artificial intelligence (AI) powered forecast modeling tool that provides an approach to supply and demand for mobility products and services by 2050 to achieve these results. is.
The latest predictions suggest that EV sales in Europe will exceed other powertrains by 2028, a trend that will repeat in China by 2033 and in the US by 2036.
Furthermore, the analysis shows that by 2045, non-EV sales will be less than 1 percent of total sales.
In terms of EV sales volume, Europe is expected to lead the way through 2031, with China leading from 2032 to 2050.
According to EY Global Advanced Manufacturing and Mobility Leader Randall Miller: “The mix of changing consumer attitudes, ambitious climate-focused regulations and technology advances is going to change the vehicle buying landscape forever. While the automotive industry continues its move towards electrification Having begun in full adoption, the impact of this seismic shift is coming sooner than many expected.”
“This new approach also has implications for governments and energy industries in terms of infrastructure and power generation and storage, and forward-looking organizations are already using this data to ensure a smooth transition to this new EV-dominated market.” We’re here to help, which will happen much sooner than expected.”
As per the report, with the global auto industry recovering from the issues it faced due to the Covid-19 pandemic, it will meet a new set of car buyers.
Many who declined ownership in exchange for ridesharing and public transportation reevaluated in the shadow of the COVID-19 pandemic, added the EY analysis.
Source: IANS