Bernstein Daniel Roeska offered insights into the evolving electric vehicle market on May 30, emphasizing how the Western and Chinese sectors are taking different routes. In particular, the U.S. EV market is slowing down; EV sales now account for 9.9% of new car sales, a slight increase from 9.6% the year before and a significant slowdown from the 2.9 percentage point growth expected in 2023–2024.
Chinese EV sales are “pushing ahead with scale and innovation,” according to the analyst, splitting the global EV market and creating “distinct implications for OEMs, suppliers, energy players, and investors.”
Even so, the analyst predicts that EV sales will continue to rise, with 11% of new car sales constituting plug-in hybrid electric vehicles (PHEVs) and 25% comprising battery electric vehicles (BEVs) by 2030. In light of the slowdown in the U.S. EV industry, Bernstein deemed the Jeep manufacturer Stellantis N.V. (NYSE:STLA) to be the most well-positioned OEM owing to its new multi-technology platform and exposure to the rapidly expanding European EV market. Compared to its Detroit competitors, Stellantis N.V. (NYSE:STLA) is expected to sustain higher returns on EV investments.
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