To watch in the next 5 years
New regulations, the production of electric vehicles, and early adopter behavior will indicate how fast EV adoption will take place.
Before electric cars and eTrucks reach cost parity for the majority of users, local and national regulators might enforce EV adoption. The first cities around the world have already announced diesel bans
Availability of electric models
For significant uptake, electric vehicles need to be readily available. Model launches, introduction prices, and the production ramp-up of manufacturers will be an important factor determining if supply can keep up with the expected demand across vehicle segments. It will also rreveal more about the strategies of traditional OEMs, which may face cannibalization of the ICE vehicles in their portfolio
Customer switching behavior
As total cost of ownership of EVs starts to outcompete ICE powertrains, customers will start switching. The rate of adoption will be influenced by the perceived attractiveness, the acceptance of new technology, and the business case of individual use cases (especially in the commercial vehicles segments)