UBS anticipates that the overarching growth trajectory of electric vehicles (EVs) will surpass initial survey projections, with sales poised to continue their upward climb. The bank's most recent forecast indicates that between 2024 and 2027, the compound annual growth rate (CAGR) for global EV sales will attain 17%, a slight adjustment from the previously forecasted 22%, largely attributed to a deceleration in the US market. Concurrently, UBS forecasts that the global EV penetration rate will hit 25% by 2025 and climb to 41% by 2030, representing a minor revision from the previously estimated 26% and 49%, respectively.
