Past technology adoption S curves all point to rapid accelerated adoption after 10% adoption is crossed. Battery electric car adoption has reach 13% in Europe and China. Norway’s electric car adoption is the most relevant data point for how fast the adoption will move. Norway went from 10% battery electric market share to over 70% in six years.
Global electric car demand should shoot up by over 5 million cars per year for the next 6 years. 2024, 2025, 2026 should see electric car demand grow by about ten million cars per year.
Factories and battery supply that is ready to ramp now will capture this demand.
SOURCES- Our World in Data
Written by Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.