Electric vehicles to transform the automotive industry over the next five years, GlobalData says

Electric vehicles are exerting a significantly disruptive effect on the automotive industry and will transform the sector over the next five years, according to analytics firm GlobalData.

There are currently 3 million electric vehicles (EVs) globally, but this could rise to 300 million by 2040, the company said in a report published on Monday August 6.

“Over the next five years, we expect stress, strain, margin evaporation, and shake out across much of the legacy automotive industry and its tier-1 parts suppliers, as a slow growth industry incurs the expense of conversion to EVs and...

Published

Andrea Hotter

August 06, 2018

16:15 GMT

New York