Electric vehiclesSetting a course for 2030Deloitte’s Global Automotive team helps automotive companies execute innovative ideas in exceptional ways. We offer a global, integrated approach combined with business and industry knowledge to help our clients excel anywhere in the world.Contact the authors for more information or read more about our services on Deloitte.com.ContentsIntroduction 2Part 1: Global progress and forecast 3EVs in regional markets 42030 sales forecast 6Four factors driving growth 7Part 2: New landscape, new approach 12Segmenting the market 12Checklist for the journey ahead 21Endnotes 232Electric vehiclesSINCE DELOITTE LAST presented a forecast for electric vehicle (EV) sales, in January 2019, the EV market has made great strides, and not just in terms of sales. Original equipment manufacturers (OEMS) have invested billions to deliver new electrified models, from R&D to factory redesign. Consumer attitudes have evolved. Government interventions have pushed forward and pulled back. But then COVID-19 completely disrupted global sales and manufacturing. In this context, a revised forecast based on updated data is needed. By examining the current state of the EV market worldwide and noting the many factors fostering growth in various directions (Part 1 of this report), we have formed conclusions about how the market will take shape over the next decade. The significant growth of EVs leading up to 2030 will present major opportunities and challenges for traditional OEMs, new-entrant OEMs, captive finance companies and dealerships. In particular, traditional OEMs will find insights in this report that can help them re-prioritise their customers and strategies in a volatile competitive landscape.Paramoun...
