Applications: Electric Vehicles (EV)

Some OEMs Cut Back Ambitious EV Targets & Investments, While Others Reaffirm Commitments The slowdown in demand for some legacy automakers has prompted them to reassess their aggressive BEV targets and cut back on investment plans, while other companies have reaffirmed their commitments. Some have pulled back on their hybrid lineups, and others are lobbying policy makers to relax regulations. The slowdown is seen as a relief providing them more time to enhance their BEV capabilities and competitiveness.

Held firm on its 2030 target for EVs to be 70% of EU and 50% of U.S. and China sales Targeting 5.55 million annual global sales by 2030, a 30% increase from 2023 Raised its 2024 sales target to 4 million, up from the previous estimate of about 3.6 million Source: CRU Group, company announcements. PEV BEV, PHEV, EREV

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