In 2018, battery electric vehicles (BEVs) had a market share of close to 2% in Europe. Investment bank Morgan Stanley predicts the global market share of BEVs will only reach close to 10% by 2025 and just over 20% by 2030.
If that turns out to be true, manufacturers like VW and all its main competitors will be financially embarrassed, if not ruined, because their expensive plans assume a sales rate of more than twice that.
“Electric cars pose some challenging environmental questions. Extraction of minerals and the question of disposal of batteries at the end of life, and the resources required are enormous. Mining of cobalt for batteries poses big problems, with the ups and downs of demand being met by poor people in dangerous forms of mining. There is an increasing awareness of these issues,” Cardiff Business School’s Professor Peter Wells said.
Read the article at Forbes.