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CareEdge Research Report
Though electric vehicle sales volumes would display a strong growth over the next three years, the growth rate would be significantly lower than previous estimates.
The key factor dragging down the growth rate is the sharp increase in prices of key raw materials including nickel, lithium and cobalt.
Increasing demand and geopolitical factors could lead to prices of EV batteries not falling at the pace previously envisaged.
The cost savings offered by compressed natural gas and liquified petroleum gas (often referred to as autogas) in comparison to petrol and diesel, supported by increasing infrastructure support for fuel stations, will lead to favorable demand for internal combustion engine based automobiles.
However, the demand would be tempered by a reduced differential between traditional fuels and gas prices.
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