The main driver behind this will be a slew of more affordable EVs — like the VW ID.3, ID.4, and Ford Mustang Mach-E — coming to market.
“This transition from niche to mainstream will be built on the introduction of low-cost EV models that satisfy the typical mileage requirements at an acceptable price point,” said James Hodgson, Smart Mobility & Automotive Principal Analyst at ABI Research.
According to the report, by the end of this decade, EVs will make up a quarter of all new vehicles shipped.
In some markets, like the UK and Norway, which are banning the sale of new petrol and diesel vehicles, we can expect that number to be higher. Drivers simply won’t have the choice to buy anything other than an EV if they want a new car.
Some people said that 2020 would be the year of the EV, but y’know there was a pandemic induced economic downturn which put a dampener on things.
Indeed, ABI’s research suggests we won’t see the booming car sales of the past decade returning for at least five more years as the world recovers from the economic downturn.
So 2021 might not be a breakout year in its own right, but should be considered a potential inflection point: the start of significant change that will gather pace and continue over the next 10 years.
Sales of EVs around the world are certainly going in the right direction, and many might believe that EVs are already a common site on roads. However, as Roadshow points out, Tesla delivered just shy of 500,000 vehicles globally, last year. To put that into context, Americans bought over 3 million pickup trucks across the same time period.
Indeed, EVs still have a way to go before they are the “mainstream” motorist’s vehicle of choice.
However, with sales steadily increasing over the past year, ICE bans coming into force soon, and with mainstream manufacturers like VW launching its range of “people’s EVs,” the coming years are certainly laying the foundation for the future of electric motoring.
Sources: Body Shop Business
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