The Intelligence from The Economist cover image

The Intelligence: Russia after Navalny

The Intelligence from The Economist

The Challenge of Slowing Growth in Electric Vehicle Market

1min Snip

00:00
Play full episode
The number of electric vehicles in Britain has grown significantly over the past decade, with the country registering its millionth electric car in January. However, the pace of growth is slowing, causing concerns among policymakers and car manufacturers. While electric car sales are still rising, the demand is currently being driven by fleet buyers rather than individuals. This shift is leading car makers to reconsider how quickly motorists will switch from petrol and diesel cars to electric ones. The Office for Budget Responsibility has revised its forecast, lowering the estimate of EV sales from an earlier prediction of 67% to just 38% of new car sales by 2027. This trend is not unique to Britain, as growth in Western markets is also slowing, as seen in the United States where the increase in electric car sales dropped from 15% to 1.3% in the final quarter of 2023.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode