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Luxury segments are swiftly adopting EVs…

why are non-luxury counterparts trailing behind?

We highlighted in our Q1 State of the Industry Report that as of 2023 BEVs constitute a whopping 36% of global luxury vehicle sales, but only a meager 2% of non-luxury sales.

This trend is not surprising. Adam Raggozino, Principal Analyst, Batteries & E-Powertrains, detailed in his presentation 'Who is winning the BEV race?' that we find ourselves at a pivotal juncture in the market's evolution – transitioning from early adopters to the more price-conscious early majority.

With recent price wars eroding margins, it's imperative for the industry to bring down the cost of manufacturing to bridge the gap sustainably. Adam pinpointed three key areas to focus:

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Adam is a Principal Analyst who covers the rapid advancements in electric vehicle Batteries and Electric Powertrains. His expertise includes critical mineral trends, chemistry trends, battery technology and electric motor technology.

Have a question on any of these topics that could do with an expert answer? Contact WardsAskAnAnalyst@informa.com.

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