BEVs projected to have 51.5% market share in U.S. in 2031.
The biggest challenge for OEMs rolling out new battery electric vehicles (BEVs) is rising input costs, which are affecting cost parity with traditionally powered vehicles. With prices of key raw materials used in BEVs having risen dramatically since 2019, S&P Global Mobility sees the potential for changes in consumer behavior, although the projected long-term market share of BEVs is likely to be unchanged.
According to a report by S&P Global Mobility, “Overall, we expect 2022 to be a year when rising raw material prices peak. However, we also expect
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