
The two speed EV transition: Manufactures vs consumers. (part 1)
It is easy to underestimate how long it will take consumers to transition to EVs, and equally easy to underestimate how urgently manufactures need to transition to avoid collapse.
Two transition speeds? Yes, brands will switch to EVs in their showroom by 2025 or risk failure, but in what seems like a complete disconnect, there will still be internal combustion vehicles on the road past 2050.
Around 10.5 million Electric Vehicles were delivered in 2022, which resulted in less than 0.7% of Internal Combustion Engine vehicles (ICEVs) being replaced by EVs during 2022, even those EVs represented 13% of new vehicles sales.
The data shows that new car showrooms transition to EVs 20x faster than the roads, and vehicle manufacture transition 20x faster then the public, and while ICEVs will likely still around beyond 2050, vehicle makers that can’t switch fast enough could collapse by 2030, bringing radical economic change.