Net zero emissions by 2050 has become a shared goal of public and private sectors around the world. In line with the goal, the transition to electric and smart vehicles is a major trend for the automotive industry. According to DIGITIMES Research, the global electric vehicle (EV) industry grew rapidly in 2021, selling approximately 6.5 million vehicles. EV sales are expected to reach 15 million units in 2025 and exceed 30 million units in 2030, representing a compound annual growth rate (CAGR) of around 20%. About 30% of the vehicles sold worldwide will run on electricity.
Tesla is poised for explosive production growth in 2022, with its EV sales to soar more than 50% year-on-year over the next two years. This is expected to drive supply chain growth going forward.
The EV industry is moving toward four development trends: flat supply chain, affordable pricing, widespread charging stations and smart EV.
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