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What does “Peak Car” mean for EVs?

Posted on - 11 Sep 2022

Category - The Future

BNEF published their Light-Duty Vehicle Outlook on 1 August. While BNEF suggests that passenger vehicle sales will probably not peak until 2036 (under its Economic Transition scenario), at Battery Materials Review we believe it will be a lot earlier, and we think there is a distinct possibility that global passenger car sales have already peaked. This is important because many analysts forecast EV sales as a percentage of new passenger vehicle sales, so if analysts are overstating passenger vehicle sales, they may either be overstating EV sales or using incorrect EV penetration forecasts which could impact the profitability of the...

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BNEF China Europe EVs ICEs India Lithium Penetration US