Jefferies lifts global EV sales forecast

Littelfuse

16/08/2021 15:20

** Jefferies raises its 2021 global electric vehicles (EVs)
sales forecast to 5.5 mln from 4.9 mln, driven by stronger
demand in China
    ** China sales surged 189% yr/yr to hit a new high in July -
analysts
    ** In the U.S., Jefferies analysts estimate Aug. average
lifetime cost of ownership is in favor of EVs (by $100) for the
first time since they began tracking the data
    ** Believe U.S. EV ramp up is likely to accelerate following
years of underperformance relative to Europe and China
    ** Ongoing ESG push could help drive increased adoption of
charging infrastructure while sustainability linked financing is
gaining traction as an option for well-positioned players -
Jefferies
    ** iShares self-driving EV and Tech ETF  IDRV.P  has risen
16% this year, while Global X Lithium & Battery Technology ETF
 LIT.P  has climbed 33% 

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))