Industry Insights

Accelerating EV adoption: a look under the bonnet

  • Multi Asset
  • Industrials
  • Europe

In 2020 electric vehicles (EVs) are en route to mainstream adoption and the data show the speed at which that trend is accelerating. Just 10 years ago, there were only 17,000 EVs on the world’s roads. By 2019, that figure had rocketed to 7.2 million, according to the International Energy Agency. 

While climate change awareness has been pushing hard on the auto industry’s EV pedal, more recently COVID-19 has spurred demand for safer, more efficient and environmentally friendly modes of travel. Experts recently interviewed by Third Bridge Forum say government incentives to bring down EV prices boosted adoption rates across Europe in early 2020. Indeed, political and regulatory forces play a significant role in EV development across the world — driving a mixed adoption picture.

We’ve spoken to a large number of industry experts this year to understand the challenges and opportunities facing auto OEMs as industry competition intensifies and technology developments continue apace. 

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