Government policy shifts drive EV demand
Our EV thematic has been discussed in previous articles, most recently in February 2017. Given the major developments in this space during September, we felt it timely to provide another update.
EV’s mass-market rollout plans continue unabated. In September, China, the largest automobile market and a third of the global automobile market, announced plans to transition to full EV. This policy shift, likely to be enforced by 2030, signals China’s seriousness to address pollution levels. India, the fifth largest automobile market, indicated its plan to move to full EV by 2030. Other countries are also looking to eliminate internal combustion engines (ICE) and to only sell EV; for example, Norway moving to full EV by 2025 and France and the UK banning ICE sales by 2040. The governor of California also announced it is looking at banning ICE sales…