Electrical Vehicles

Exponential demand for Electric Vehicles

Electric vehicles demand continues to grow at exceeding rates, with sales ramping up faster than previously predicted as part of policy from global governments to phase out internal combustion engines (ICE) from 2025 as one strategy to reduce carbon emissions. Significant change is expected in Europe where demand, driven by government incentives, will see it overtake China by 2030 as the largest market for EVs. The US has also announced targets of 50% EV penetration by 2030.