Cleaning Up: Leadership in an Age of Climate Change

Is There Really an EV Slowdown? Ep182: Colin McKerracher

Oct 23, 2024

Colin McKerracher, Head of Clean Transport at BloombergNEF, dives into the complexities of the electric vehicle market, addressing perceptions of a slowdown in sales despite robust unit numbers. He discusses regional differences, the challenges posed by tariffs on battery manufacturing, and the rise of affordable EVs in Europe. The conversation explores future projections, with a potential 45% of global vehicle sales being electric by 2030, and touches on the electrification of heavy-duty transport, including innovative charging solutions.

01:04:23

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Episode guests

Colin McKerracher

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Quick takeaways

Despite a slowdown in growth rates, overall electric vehicle sales continue to rise, particularly with significant regional variations observed.

European automakers are postponing EV sales due to regulatory pressures, which could reshape market dynamics and pricing strategies in the future.

Investment in charging infrastructure is crucial for sustaining EV adoption, as demonstrated by countries with robust charging networks supporting market growth.

Deep dives

EV Sales Growth Trends

The discussion highlights that while the growth rate of electric vehicle (EV) sales is slowing, overall unit sales continue to increase. This normalization was expected after a post-pandemic bump that saw explosive growth. Currently, EV sales are projected to grow by about 20%, consistent with earlier forecasts, even as regional dynamics reveal differences in EV adoption rates among markets. Specifically, markets like China are experiencing much quicker growth compared to Europe and North America.

Intro

2min

Electric Vehicle Market Dynamics

19min

Challenges and Opportunities in Battery Manufacturing

7min

The Rise of Affordable Electric Vehicles

4min

Future Trajectory of Electric Vehicle Adoption

3min

The EV Adoption Debate: Perspectives and Progress

13min

Electrifying Heavy-Duty Transport

14min

Reflecting on Electric Vehicle Insights and Future Engagement

2min

Is the shift to electric vehicles really slowing down? Are people losing interest in EVs, or is there more to the story? How will changes in the global automotive industry impact the net-zero transition? And If no one wants EVs, why do we need tariffs?

This week on Cleaning Up, host Michael Liebreich sits down with Colin McKerracher, Head of Clean Transport at BloombergNEF, to unpack the latest trends and dynamics in the electric vehicle market from cars to trucks to two wheelers. They dive deep into the regional differences, the strategies of European automakers, the impact of tariffs, as well as the latest forecasts and predictions in BloombergNEF's Electric Vehicle Outlook.

Leadership Circle:

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation and Wärtsilä. For more information on the Leadership Circle, please visit cleaningup.live

Links:

BloombergNEF's Electric Vehicle Outlook: https://about.bnef.com/electric-vehicle-outlook/
The Debunker-in-Chief - Ep15: Auke Hoekstra
The Solar Revolution - Past, Present and Future - Ep 173: Jenny Chase
Slowdown, what Slowdown? The EV Revolution is Just Getting Started - Ep178: Dr Andy Palmer
Could Trump 2.0 Roll Back The IRA? Ep181: Ethan Zindler

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