EV sales slowdown: Goldman Sachs predicts bear-case scenario for 2024
1 year ago

EV sales slowdown: Goldman Sachs predicts bear-case scenario for 2024

Hindustan Times  

A Goldman Sachs research report on electric vehicles says the EV uptake is at a turning point, and hybrids and plug-in hybrids are giving tough competition. Goldman Sachs report says this is due to concerns about three factors: EV capital cost due to lower prices of used EVs, poor visibility on government policy visibility, and a shortage of rapid charging stations. But despite the current slowdown in EVs, the bear-case scenario still calls for EV sales volume to rise 21 per cent YoY in 2024. The Goldman Sachs report says that EVs are nearing a turning point in terms of economic viability as governments across the world are reducing subsidies that have lowered initial investments, aggressive pricing strategies adopted by Chinese makers, and running cost benefits, i.e., fuel savings.

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