Electric vehicles confront the leap to the mass market

📆 16/12/2022 09:50:00
📰 Reuters

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The past year has been sobering for investors who poured money into electric vehicle startups

Starting next year, a wave of new electric vehicles from pickup trucks to middle market SUVs and sedans will hit the world's major markets.

In China, the world's largest single automotive market, battery electric vehicles have captured about 21% of the market. In Europe, EVs account for about 12% of total passenger vehicle sales. But in the United States, EV market share is only about 6%. The all-electric Ford F-150 Lightning pickup truck is unveiled at the company's world headquarters in Dearborn, Michigan, U.S., May 19, 2021. REUTERS/Rebecca Cook/File Photo

Electric vehicle sales likely will not increase in a smooth, ever-ascending curve, said AFS President Joe McCabe. If there is a recession next year, as many economists forecast, that will slow EV adoption.

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I don’t think anyone should be trying to emulate Elon Musk.

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