In a statement, the company said leading vehicle manufacturers like Audi, BMW, Mercedes-Benz and Volkswagen had unveiled EVs at this year's Geneva International Motor Show. There were also electric hypercars and supercars from companies like Volvo, India's Mahindra & Mahindra and the Czech brand Rimac.
While EV sales were increasing globally, Counterpoint said its research showed that China accounted for more than half the volume with more than 600,000 units sold in 2019, more than three times the number sold in the US – 198,000.
Counterpoint consulting director Vinay Piparsania said: “The past year has seen numerous announcements from almost all major automotive OEMs sharing their ambitious global EV product plans. These announcements have been further amplified at the 2019 Geneva International Motor Show.
"We expect that by 2030, the share of EVs in various global markets will range from 10% to 50% of new vehicle car sales. The actual share of EV sales will, however, depend on levels of congestion, mandated emission regulations, consumer incentives/subsidies and other such external factors.”
Counterpoint listed what it believed to be key trends that would shape the automotive industry:
Shared mobility – Automotive OEMs are awakening to the reality and urgency of having to reimagine themselves as ‘mobility service’ providers, to protect their revenues and diversify their business models.
Connected cars – Innovations in connected car technologies are projected to improve quality and speed of vehicle-to-vehicle and other vehicle-to-everything communications.
Autonomous vehicles – With rapid advancements in technology and artificial intelligence aiming to ultimately replace human drivers, fully autonomous vehicles are expected, in some forms, sooner than many think.
Electrification – With EVs gaining momentum and expected to eventually cost the same as conventional fuel powered equivalents, the reality of their opportunity for car manufacturers and battery suppliers is dawning.
Global automotive consolidations and alliances – With the critical need to stay competitive and relevant, a race for partnership and alliances among automakers and technology enterprises, unimaginable before, is on.