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According to Global Market Broadcast, General Motors CEO Mary Bora said in a recent interview that she believes all cars will be zero-emission within 25 years, but the current situation of Tesla's dominance of sales will change. In an interview with Blackstone founder David Rubenstein at the Economic Club in Washington, D.C., Bora said that in 25 years, cars will either be electric or hydrogen fuel cell, in short, with zero emissions.
Speaking about Elon Musk's Tesla's current dominance of the EV market, Birla said, "I think Tesla has done a lot of credit because they've kept the promise and they've worked on it over the years to scale up and grow. I think they've really helped the EV market. I think there are a lot of OEMs that are competitors to Tesla right now, so I think that's going to change that.
With the increasing global focus on environmental protection and sustainable development, the demand for new energy vehicles is also rising. Government support policies and subsidies for new energy vehicles are also driving the development of the market. At the same time, the continuous innovation of new energy vehicle technology and the reduction of costs have made such vehicles more competitive. In the market, more and more automakers are investing in the field of new energy vehicles, and the competition is becoming increasingly fierce. In addition, the rising awareness of consumers about environmental protection is also driving the growth of the new energy vehicle market.
-- Global production of new energy vehicles continues to grow
From the perspective of new energy vehicle production, from 2019 to 2022, the global production of new energy vehicles continued to grow, from 2.356 million to 10.749 million, a year-on-year increase of 59.20% in 2022. Compared with the growth rate of 108.30% in 2021, the growth rate of global new energy vehicle production in 2022 will decline, and the explosive expansion cycle of the industry may have passed, and then it will most likely enter a stage of steady growth.
-- Global sales of new energy vehicles have grown steadily
ACCORDING TO EV VOLUMES STATISTICS, GLOBAL NEW ENERGY VEHICLE SALES GREW RAPIDLY FROM 2014 TO 2022, WITH GLOBAL NEW ENERGY VEHICLE SALES OF ABOUT 10.522 MILLION UNITS IN 2022, AN INCREASE OF 55% OVER 2021, AND A DECLINE FROM 109% IN 2022, BUT STILL A HIGH GROWTH RATE IN THE PAST NINE YEARS. The regional growth model of new energy vehicles is shifting, with sales of electric vehicles in Europe only increasing by 15% compared to 2021 after two consecutive years of significant growth in European sales. The weakness in the overall automotive market and ongoing component shortages have taken their toll, which has been exacerbated by the war in Ukraine. EV sales in the U.S. and Canada increased by 48% year-over-year. In the second half of 2022, compared with the same period in 2021, the global new energy vehicle market has seen a slight recovery.
Note: The statistical caliber of new energy vehicles here is pure electric vehicles and plug-in hybrid vehicles.
-- China's new energy vehicle market share ranks first in the world
In terms of market share, the global market share of new energy vehicles will reach 13.3% in 2022, of which China has the highest market share of new energy vehicles, reaching 24.4% in 2022, followed by Europe, with a market share of 17.3%. Compared with the average market share of 13.3% in the global new energy vehicle market, it can be seen that the market share of new energy vehicles in India and Japan is low, and the future market space is relatively broad.
Note: New energy vehicle market share = new energy vehicle sales / total sales volume of the corresponding automobile market
The "2023 World New Energy Vehicle Conference Consensus" has firm confidence that the global market share of new energy vehicles will reach more than 50% by 2035, and will focus on the development of pure electric vehicles, plug-in/extended range hybrid vehicles, and fuel cell vehicles, continue to promote the research and development of multi-energy power technologies such as high-efficiency and high-safety power batteries, high-efficiency internal combustion engines and carbon-neutral fuels, and wide-temperature fuel cells, strengthen the construction of charging and swapping, and hydrogen energy infrastructure, and strive to achieve this development goal ahead of schedule.
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