Electric Vehicle OEM Supplier's Forecasts Differ

Washington DC January 11, 2022; The AIADA newsletter reported that as established automakers and industry newcomers talked up new electric models at CES last week, major suppliers for many of those vehicles have significantly different forecasts for how quickly consumers will buy them.

Take ZF Group and Magna International, the world's third- and fourth-largest suppliers.

ZF anticipates EV production accounting for about 45 percent of global vehicle output by 2030, with EVs representing 49 percent of all vehicles assembled in North America. "We see the U.S. certainly catching up globally to the other major markets," said John Hawkins, ZF's vice president of electrified powertrains for North America.

Magna, meanwhile, sees EV sales accounting for only about 20 percent of the global market by 2030, with the U.S. coming in below the global average.

According to Automotive News, the discrepancy between the two suppliers' forecasts underscores the lingering uncertainty over how quickly the new-vehicle market will shift toward EVs.

Their forecasts may differ, but ZF and Magna agree that North America will be slower to adopt EVs than Europe and China. For more predictions,click here.