Silicon, Copper, Nickel major sea change underway ! For all the headlines written recently about how EV demand is faltering, the data definitely doesn’t support this — at least not yet.
Sales of passenger EVs are on pace to hit 14 million this year, up 36% from 2022. In the US, where most of the concerns about demand have been raised, sales are growing even faster and will be up 50% this year. Sales might be short of what some manufacturers were hoping for, but have been in line with BNEF’s forecast from the beginning of the year, and most industries would be very happy with this kind of growth rate.