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Wednesday, 01 December 2021 16:17

Auto Executives Expect EVs Will Own Half of U.S., China Markets by 2030: Survey

Written by Joseph White, Reuters

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Auto industry executives expect electric vehicles will make up just over half of new vehicle sales in the U.S. and China by 2030, and could do so without receiving government subsidies, according to a new survey by accounting and consulting firm KPMG.

But combustion vehicles, including hybrids, are expected to retain a significant share of most major vehicle markets for years to come, according to KPMG's latest annual survey of 1,000 auto industry executives.

 

The speed at which automakers can phase out combustion engines and the carbon dioxide they emit is a pivotal issue for the global auto industry. A group of automakers and countries signed a statement in November calling for phase-out of combustion vehicles globally by 2040, and by 2035 in richer nations.

 

To read more, see Reuters.

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