Global EV Market To Reach US$360bn In 2025
The EV sector is all set to revive the slumped global auto sector.With global governmental policies and falling EV vehicle prices working in the sector’s favour, the industry could be valued at US$360bn by 2025 led by China & Europe. EV share of total new car sales expected to cross ~12mn mark by 2025 (from 2.1mn in 2019). The sector prospects looks attractive and is witnessing increased capital market activities in recent times with Companies such as Nikola Corp and Li Auto already listed this year while Hyliion and Fisker are in the queue.
Inspite of the current pandemic, companies are strategically opting an already listed SPAC vehicle to go public. While Tesla leads the EV market, we see strong competitors especially from China.
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