Post#1: 2,000% Increase in 11 Years, That’s Some Serious E-Nuts and Giga-Bolts

The world is at the cusp of an e-mobility revolution. The IEA projects that by the year 2030, under its sustainable development scenario, 45 million electric vehicles will be sold across the globe. To provide perspective, in 2019, there were just 2.1 million electric vehicles sold. That’s a projected 2000% increase in just eleven years.

With 15.5% of the world’s EV market, the United States and its transportation sector will play a pivotal role shaping in future EV trends. According to the most recent Synthesis Partners, LLC (SP) forecasts, in 2030 the US will have approximately 42 million EVs in stock and 6.5 million EV sales that year.

The Indian electric vehicle market is similarly expected to experience significant sales, with 10.5 million EV sales projected for 2030—primarily stemming from the 2-wheeler segment.

Why is this important? Because the US and India both face a phenomenal pathway to bolster their domestic electric automobile manufacturing industry, realign their supply chains, and double down on their technology development in this space. However, while there is tremendous promise, the reality of achieving these pursuits will require significant planning, intention and effort. The next few blog posts will seek to break down the global EV supply chain to outline areas both countries could bolster their investments.

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