EVs predicted to be 33% of global sales by 2028

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STORY: Source: AlixPartners

As demand accelerates in most markets, electric vehicle sales could add up to 54% by 2035

EVs accounted for less than 8% of global sales in 2021, and just under 10% in Q1, 2022

Automakers and suppliers are expected to invest at least $526bn on EVs and batteries from 2022 to 2026

AlixPartners says the industry still faces economic and supply chain challenges

"Drastic changes" are needed to transition from internal combustion engines (ICE) to electric vehicles

Raw materials for EVs at $8,255 per vehicle cost more than twice those for ICEs

Transitioning will cost automakers and suppliers a cumulative $70 billion by 2030