Posco forecasts 2019 EV sales at four million
Just over two million EVs were sold globally in 2018, a growth rate of 63% y/y from the c.1.2m sold in 2017. As we noted in our last issue, that was a great result, particularly given that many commentators hadn’t expected the two million mark to be reached until 2025E. We thought it was likely to lead to a number of forecast increases for EV sales, and we were right. BHP Billiton (LSE:BLT/ASX:BHP) took its low-case EV sales penetration forecast up to 7% by 2035E, up from 5% a year ago, suggesting that 275m EVs will be on the road,...