Welcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.
Earlier this month, BNEF published the annual Electric Vehicle Outlook. The report highlights a transition to EVs that is progressing very differently between vehicle segments. Two and three-wheelers are well on their way, with 44% of their global sales already electric in 2020. Heavier vehicles like commercial vans and trucks are the furthest behind – only around 1% of global light commercial vehicle sales are electric today, and for heavy commercial vehicles the number is a fraction of a percentage. In general, heavier vehicles are harder to electrify.