COVID-19 dents EV sales, but long-term growth unaffected

BloombergNEF’s latest electric vehicle outlook acknowledges the damage done by COVID-19, but asserts the continued growth of the EV segment. By Xavier Boucherat

COVID-19 has sent buying a car to the bottom of most people’s priorities, and the damage is extensive. For 2020, a year-on-year drop in global EV passenger car sales of 23% is predicted, and no recovery to 2019 levels expected until 2025. Significantly, annual sales of electric vehicles (EVs) will fall after several years of strong growth, with BloombergNEF (BNEF) predicting a drop of 18% for the year at 1.7 million units worldwide….

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