Changes Happen Fast These Days

Anecdotally, it seems like things change quicker these days. Technology, medicine, recovery from bear markets, investor sentiment and so on. It is increasingly looking as though the adoption of electric vehicles (EV’s) could be a major example of events occurring faster than expected.

Recently, Bank of America Global Research stated that their estimate for price parity of EV’s (including incentives) with internal combustion engines (ICE) will occur in 2025, four years earlier than previous estimates. They expect new EV launches in the 2024-2027 period to exceed ICE

Below we can see their estimates for EV sales in units and market penetration as a percentage through
2030.