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Global EV Outlook 2023 (INTERNATIONAL ENERGY AGENCY)
- Electric car markets are seeing exponential growth as sales exceeded 10 million in 2022
- Electric car sales are expected to continue strongly through 2023
- There are promising signs for emerging electric vehicle (EV) markets, albeit from a small base
- Market trends and policy efforts in major car markets are supporting a bright outlook for EV sales
- Projected demand for electric cars in major car markets will have profound implications on energy markets and climate goals in the current policy environment
- The European Union and the United States have passed legislation to match their electrification ambitions
- Battery manufacturing continues to expand, encouraged by the outlook for EVs
- Global spending on electric cars exceeded USD 425 billion in 2022, up 50% relative to 2021
- SUVs and large cars dominate available electric car options in 2022
- The electric car market is increasingly competitive
- Consumers can choose from an increasing number of options for electric cars
- Electrification of road transport goes beyond cars
- The commercial vehicle stock is also seeing increasing electrification
- Ambition with respect to electrifying heavy-duty vehicles is growing
- The increase in demand for electric vehicles is driving demand for batteries and related critical minerals
- New alternatives to conventional lithium-ion are on the rise
- The EV supply chain is expanding, but manufacturing remains highly concentrated in certain regions, with China being the main player in battery and EV component trade
- EV supply chains are increasingly at the forefront of EV-related policymaking to build resilience through diversification
Source: IEA
IEA
Global EV Outlook 2023 – Analysis - IEA
Global EV Outlook 2023 - Analysis and key findings. A report by the International Energy Agency.
Great set of data points! Thank you for sharing I know @averageinvestor and @yaninvests follow the EV space
@joeyhirendernath this is super insightful regarding the sourcing of materials for EVS - https://www.washingtonpost.com/world/interactive/2023/electric-car-batteries-geography/?itid=hp_only-from-the-post_p002_f001
Good share as always. Thanks man
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