Skip to main content

JMS forecasts rapid expansion of the global market for electric vehicles in 2021

Written by Customer Service on . Posted in Public Companies.

In 2020, global sales of battery electric vehicles (BEVs) and other electric vehicles (EVs) were estimated to have reached nearly 2.5 million units, with a 70 percent increase expected in 2021.

More than 240 new battery electric trucks (BEV) and plug-in hybrid electric vehicles (PHEV) are expected to hit the market in the next two years. By 2030, it is estimated that 130 million electric cars will be on the road worldwide. To meet this target, massive charging stations will be needed, which will be very costly.

Around USD 100 billion to USD 170 billion should be invested in the next ten years to meet worldwide demand for electric vehicle charging stations, both in public spaces and inside homes (2020-2030). For the foreseeable future, charging in residential and industrial buildings will be the most popular option, and it will be critical to the industry’s growth in the most advanced electric vehicle markets.

In Europe, rules requiring each manufacturer’s light-duty fleet to emit no more than 95 grams of CO2 per kilometre have increased EV sales and will continue to do so. Sales of electric vehicles are crucial to balancing emissions from other vehicles because businesses can earn and trade credits. JMS reported that Europe BEV sales climbed to nearly 7% of total sales in the most recent month for which full data is available, October 2020, “aiding all major car makers in reducing potential gap-to-compliance.”

According to JMS Senior Analyst Peter Davenport, more European regulatory support for zero-emission cars is on the way. “The 2030 passenger car carbon dioxide target is expected to become stricter under the Green Deal framework, compared to the current legislative requirement of 37.5 percent carbon dioxide reduction from 2021 levels,” he said.

In countries like the United States and Canada, the automotive industry is geared toward innovation, technology, and the growth of advanced electric vehicles. During the forecast period, the North American market is expected to expand by over 14% in terms of volume sales. Electric cars are expected to increase in popularity due to rising demand for carbon reduction and the development of more advanced and fast charging stations. Additionally, in 2018, Electrify America, a non-profit organization dedicated to promoting electric vehicle adoption, announced plans to invest USD 200.0 million in California. As a result, electric vehicle demand in North America is expected to increase over the forecast period.
For more information, visit: https://jmsfin.com/index.html

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.