In 2016, Bloomberg made a bold prediction about the future of electric vehicles (EVs), stating that by 2023, EVs would account for 35% of new car sales worldwide. As we approach the end of 2021, it is time to revisit this prediction and see how accurate it has been so far.
To provide an update on Bloomberg’s prediction, we turn to CleanTechnica, a leading source of clean energy news and analysis. CleanTechnica has been closely monitoring the EV market and has valuable insights to share.
According to CleanTechnica’s analysis, Bloomberg’s prediction is on track to becoming a reality. The global EV market has experienced significant growth over the past few years, with sales increasing at an impressive rate. In 2020 alone, despite the challenges posed by the COVID-19 pandemic, global EV sales reached a record high of 3.24 million units, representing a 43% increase compared to the previous year.
Several factors have contributed to this surge in EV adoption. First and foremost, governments around the world have been implementing policies and incentives to promote the transition to electric mobility. Many countries have set ambitious targets for reducing greenhouse gas emissions and have recognized the role of EVs in achieving these goals. Subsidies, tax credits, and other financial incentives have made EVs more affordable and attractive to consumers.
Furthermore, advancements in battery technology have significantly improved the range and performance of EVs. The cost of batteries has also been steadily declining, making electric vehicles more competitive with their internal combustion engine counterparts. This has alleviated one of the major concerns consumers had about EVs – range anxiety.
CleanTechnica’s analysis also highlights the growing number of automakers investing heavily in electric vehicle production. Traditional automotive giants such as Volkswagen, General Motors, and Ford have announced ambitious plans to electrify their vehicle lineups in the coming years. Additionally, new players like Tesla and Rivian have emerged as key players in the EV market, offering innovative and desirable electric models.
While Bloomberg’s prediction of 35% EV market share by 2023 may seem ambitious, CleanTechnica’s analysis suggests that it is within reach. In fact, some regions are already surpassing this target. Norway, for example, has been leading the way in EV adoption, with electric vehicles accounting for over 50% of new car sales in recent years.
However, challenges remain. The availability of charging infrastructure is a crucial factor in the widespread adoption of EVs. Governments and private companies need to invest in expanding charging networks to ensure convenient and accessible charging options for EV owners. Additionally, the production of batteries and other critical components needs to be scaled up to meet the growing demand for electric vehicles.
In conclusion, Bloomberg’s prediction on EVs for 2023 is well on its way to becoming a reality. The global EV market has experienced remarkable growth, driven by government policies, technological advancements, and increased investment from automakers. While challenges remain, the future of electric mobility looks promising. As we move closer to 2023, it will be fascinating to see how close Bloomberg’s prediction aligns with the actual market share of EVs.
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- Source Link: https://zephyrnet.com/in-2016-bloomberg-made-a-wild-prediction-regarding-evs-for-2023-were-here-to-check-on-it-cleantechnica/