Monday, 15 June 2020

2022-23 to be golden period for global EV industry

As per Frost and Sullivan, 2022-23 will be the golden period for EVs with the number of launches increasing significantly and battery prices coming down which would provide a very vital impetus to the growth of the global EV industry.

By 2025, 30-35 percent of sales are expected to be electric which includes mild hybrid, full hybrids, plug-in, and battery. In terms of battery electric vehicles, about 10-12 percent of global sales will be fully electric.

Its  said that the mild hybrid systems especially 12Volt systems, 48Volt systems, and 12+12 volt systems could be very attractive options for markets like China and India, especially in the small-to-medium segment.