The rise of collaboration in the electric vehicle space
Electric vehicle (EV) collaborations between global automotive manufacturers have started to gather pace. In fact, the latest research from Cornwall Insight’s Charged Up: Future Fleet shows that these ventures have steadily grown since December 2018. With eight of the 13 major car manufacturers having either engaged or attempted to arrange a joint venture, making this a truly global trend.
Tom Lusher Analyst at Cornwall Insight, said:
“The scale of collaboration between major automakers is unprecedented, indicating that consumer demand and regulation are placing a considerable amount of pressure on firms to develop electric transport.
“These partnerships have ramped-up over the past few months due to the pressure automakers are under to reduce the emissions of their vehicles. To achieve their lower emission targets, EVs will need to be produced at scale. The alliances allow higher volumes of capital to be invested to help them obtain the necessary economies of scale to make the cost of EVs more attractive to customers.
“These projects’ investment and knowledge are predominately concentrated on research & development and the manufacturing of EVs. This is likely to see the supply of EVs to international markets begin to pick up in the early 2020s.
“Currently, fleets and domestic customers alike are struggling to purchase EVs and initiate a large-scale transition. These collaborations are likely to be a critical movement that works to remove this barrier in the years to come.”
The rise of collaboration in the electric vehicle space by Cornwall Insight