Sustainability, Energy Transition, ESG

EVs: We Could See a Competitive Bloodbath in 2024
October 13, 2023
Companies Mentioned:
Tesla, BYD, Li-Auto, GM, Ford, Stellantis, Hyundai, Kia, Lucid, Rivian, ADNOC, Aker Carbon Capture, BASF, Electric Hydrogen, Lithium Americas, Origin Materials
Commodities Mentioned:
Hydrogen, Ammonia, CO2, Wind, Solar, Lithium
Subjects Covered:

C-MACC Weekly Sustainability and Energy Transition Report

EVs: We Could See a Competitive Bloodbath in 2024

  • More production capacity, cheap availability from China, more new entrants, and much higher borrowing rates paint a worrying picture for EVs in 2024.
  • The net result will likely still be robust EV demand but driven partly by lower prices, which will be bad news for the automakers and their suppliers.
  • We expect 2024/25 to see a shakeout in many energy transition spaces with the number of providers in most sectors shrinking – EVs should be no exception.
  • We look again at the common sense of CCS and the blue economy and highlight the significant cost advantages that blue offers while still driving lower emissions.
  • Otherwise, we see cost-related progress in carbon capture but room for more, and we again question the pace of renewable power development versus demand.

See PDF below for all charts, tables and diagrams

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