Forbes | Mike Scott
The need to tackle climate change and local air quality, coupled with oil market volatility, will keep EV market on course for growth.
The Covid-19 pandemic has had a devastating impact across the economy, and the automotive sector is no exception. Consultancy BCG forecasts that “automotive sales most likely will decrease 14-22% among the China, US and European markets in 2020.”
There is one bright spot, though, according to the International Energy Agency (IEA), which says that the number of electric cars on the road will reach almost 10 million this year, with sales of electric vehicles (EVs) set to buck the trend of declining sales in internal combustion engine cars and broadly match the 2.1 million sold in 2019.