Global Electric Vehicle Sales Should Exceed Current Forecasts, Substantially.
ARK expects global sales of Electric Vehicles (EVs) to reach 17 million units by 2022, while agencies like the EIA are forecasting only two to four million units. Given the declining cost curve of lithiumion battery cells, juxtaposed against the rising cost of internal combustion engines, EV sales growth is accelerating rapidly.
Growth could be curbed by battery supply constraints in the next two to three years, but capital spending in this space should accelerate as battery supplies rise to meet the demand for EVs.
The auto sector is ripe for significant consolidation. Learn more and fill out the contact form to access ARK's white paper "The Future of Autos and Trucks Is Electric".