Fast-evolving battery technology and plummeting prices set to ignite global EV growth

Tuesday, 7 May 2024, 11:30
BNP Paribas predicts a robust surge in global EV sales, projecting a compound annual growth rate of 23% through the end of the decade. This growth is attributed to advancements in battery technology and significant reductions in prices driving widespread adoption.
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Fast-evolving battery technology and plummeting prices set to ignite global EV growth

Fast-evolving battery technology and plummeting prices set to ignite global EV growth

Global EV sales are anticipated to experience a rapid acceleration beginning next year and continue to expand at an impressive compound annual rate of 23% until the end of the decade.

Main Takeaways:

  • Global EV sales poised for significant growth
  • Advancements in battery technology crucial for increasing adoption
  • Price reductions contributing to widespread acceptance
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