Page 28 - TTG-Taiwan Transportation Equipment Guide (TTG)2022-04 Edition

26
Industry News

In terms of market share, North
America will continue to lead
ICE demand and ownership in
the short term, as the necessary
infrastructure for wide-spread EV
adaptation is still in the works,
as highlighted by the Biden
administration’s infrastructure bill
that was passed just last year.
On the other hand, Europe and
China are on track to spearhead
EV growth, according to a report
issued by PwC on electric cars and
across varied industries, part of the reasons supply chains back in 2019, which
behind chip makers’ difficulties in resupplying the was indeed a trend that made traction in the past
automotive sector was largely correlated to car two years. For instance, according to data compiled
brands canceling orders early on in the pandemic, by the China Passenger Car Association (CPCA),
and the rise of at-home work prompted electronic sales of new energy vehicles (NEVs), more than
product demand. doubled in November and December. End-of-
year promotional auto events helped bolster deal
Therefore, to ensure chip supply, global volume, pushing full-year deliveries by 169%, a
automotive brands are moving to foster closer historic record of 2.99 million units. Policies favoring
ties with global fabs. For instance, media outlets EV adoption in Europe and China have helped
reported in November that Ford Motor Co and chip cement car ownership; especially true for China,
manufacturer GlobalFoundries Inc announced plans as the Chinese government is on track to hit a 20%
to collaborate to boost supplies for the automaker's market penetration rate ahead of the forecasted
vehicles and the U.S. auto industry, though neither 2025.
company elaborated on the details of such a
plan. The market movement does show that the Popular types of EV models are also becoming
globalization of supply chains in the pre-pandemic clearer, as reported by EV-Volumes; for the first
era could eventually become a distant memory as time since EV-Volumes began its reporting, the top
suppliers seek to centralize the production of key ten rankings were now all Battery Electric Vehicles
components on home soil or in the same region. (BEV), hinting at how auto parts manufacturers
should direct future investments and designs.
EV to Further Disrupt the Market

Despite the setback
brought on by the pandemic
and resulting global chip
shortages, EV ownership
is the inevitable trend. EV
world sales database EV-
Volumes reported that 2.65
million EVs found new
owners in H12021, a 168%
increase compared to 2020.
Much of the market recovery
was driven by "attractive
products, extensive green
recovery funds, and the 95g
CO2 mandate.”