Electric vehicle sales expected to grow 50% in 2021

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okiedo

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Electric vehicle sales expected to grow 50% in 2021

posted on Dec 31, 2020 07:08AM

Global electric-vehicle sales will grow 50% or more next year, while sales of internal combustion engine vehicles are expected to grow 2% to 5%.

That’s the view of analysts at Morgan Stanley, who in a note to clients on Friday also predicted that global EV penetration would top 4%, rising to 31% by 2030.

The year 2021 “is shaping up to be a critical year for EV adoption and (internal combustion engine) de-adoption that will dictate the pace of multiple expansion, contraction, consolidation and proliferation” among the stocks, Morgan Stanley analyst Adam Jonas said in the note.