Popular Post

Amendments to Charge Heavy Taxes on Big Industries are Passed by Parliament
News

Amendments to Charge Heavy Taxes on Big Industries are Passed by Parliament

Shan Masood is upbeat about Derbyshire's upcoming match against India.
Cricket

Shan Masood is upbeat about Derbyshire's upcoming match against India.

A List Of Nutritious Foods You Can Consume Without Gaining Weight
Health

A List Of Nutritious Foods You Can Consume Without Gaining Weight

Texas and Pakistan are establishing stronger commercial relations.
Politics

Texas and Pakistan are establishing stronger commercial relations.

Complete Paper Pattern for MDCAT 2022 Released
Education

Complete Paper Pattern for MDCAT 2022 Released

Electric vehicles might account for a massive 33% share of car sales by 2028, according to report.

  • qurratulain
  • 2022-06-23 16:50:12
  • Lifestyle
Electric vehicles might account for a massive 33% share of car sales by 2028, according to report.

Description:

According to AlixPartners" estimate, electric vehicle (EV) sales are expected to account for 33% of total car sales by 2028 and 54% by 2035. Global EV sales were 8% of total car sales last year, and will be just under 10% in Q1 CY2022.

According to the analysis, increased demand for electric vehicles obligates automakers and manufacturers to make investments $526 billion in EVs, batteries, and charging infrastructure over the next four years.

Mark Wakefield, co-leader of AlixPartners" automotive group, told Reuters that the boost in investment will fuel demand for EVs even more. However, he continued, the industry has numerous hurdles in accelerating EV normalisation.

Production costs are one of the most prudent worries. The raw materials used to make EVs cost more than twice as much as those used to make ICE automobiles. According to Reuters, an EV costs $8,255 to manufacture in May 2022, whereas an ICE car costs only $3,662.

AlixPartners predicts a rising trend in EV demand due to rising fuel costs around the world, concluding that automakers will have no alternative but to invest more funds in EV research to maintain up supply.

Qurratulain Junaid
Chief Content Officer

A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Qurratulain has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years.


[email protected]

You may also like

Popular posts

CM Punjab election: Lahore High Court orders recount minus 25 de-seated MPA votes
Politics

CM Punjab election: Lahore High Court orders recount minus 25 de-seated MPA votes

  • 2022-06-30 14:50:25
The FIA arrests a gang for training black magic on YouTube
News

The FIA arrests a gang for training black magic on YouTube

  • 2022-06-30 13:49:08
NA stamps IMF-dictated Rs9.6tr federal outlay
Politics

NA stamps IMF-dictated Rs9.6tr federal outlay

  • 2022-06-30 13:46:49
Launching the vivo Y55 in Pakistan with an Amazingly Fast Processor and a Massive Battery
Telecom

Launching the vivo Y55 in Pakistan with an Amazingly Fast Processor and a Massive Battery

  • 2022-06-30 13:33:32
Katrina Kaif's new film 'Phone Bhoot' will release on October 7
Bollywood

Katrina Kaif's new film 'Phone Bhoot' will release on October 7

  • 2022-06-30 13:19:02

Pages

Subscribe our Newsletter!

Subscribe to our email newsletter to receive useful articles and special offers.