Tesla, the pioneering electric car manufacturer, is anticipated to maintain its leading position in the battery electric vehicle market. The company’s continued innovation and expansion, evidenced by the successful launch of the Tesla Gigafactory near Berlin, have solidified its top spot in the eyes of industry leaders. This European venture, in particular, has heightened Tesla’s influence in the region, raising expectations of its continued market dominance.
Following Tesla, German automakers BMW and Audi are expected to be key players. The survey highlights a notable shift in the perception of these traditional manufacturers, as they increasingly focus on electrification strategies. This change is particularly significant in Western Europe, where the opening of Tesla’s Berlin factory has intensified the competition.
Interestingly, the survey also reveals an expectation that Apple, a company traditionally outside the automotive sector, could emerge as a major competitor by 2030. This prediction underscores the growing convergence of technology and automotive industries, with tech giants potentially leveraging their expertise to carve out significant market shares in the EV landscape.
Another notable contender is BYD, a Chinese automotive company, which has been making strides in the EV market. The brand’s growing influence is expected to expand beyond its domestic market, challenging established players on a global scale.
Chinese and American executives diverge in their predictions for the EV market. While the Chinese market is seen as a frontrunner in EV adoption, with high expectations for local brands like BYD, American executives lean more towards established brands and new entrants like Apple.
The survey results mirror the broader trends in the automotive industry, where electrification is no longer a niche market but a mainstream ambition. The diversity of the predicted leaders – from established automakers to tech giants – indicates a dynamic future for the EV market, with opportunities for innovation and collaboration across different sectors.
As the industry braces for a transformative decade ahead, these predictions offer a glimpse into the potential landscape of the EV market in 2030, marked by intense competition, technological advancements, and a shift in market dynamics favouring electric mobility.
Source: Getting real about the EV transition | KPMG
