Electric vehicles are gaining strong momentum in the automotive market. High growth rates in new registrations are already driving the cable and wire industry to invest in ever more modern technology. Electromobility is undoubtedly electrifying suppliers.
In Europe alone, electric vehicle sales have nearly tripled since 2019, reports the “AlixPartners Global Automotive Outlook 2021.” In addition, the AlixPartners analysis reveals, “That investment in electromobility will grow much faster by 2025 than expected last year”—globally by plus 41%, and in Europe by plus 52%. In addition to the ecological aspect, the promotion of the switch to electromobility by governments is also likely to play an important role. Fourteen EU countries and China plan to ban the sale of internal combustion vehicles by 2035 at the latest, the “AlixPartners Global Automotive Outlook 2021” points out.