OSLO (May 2): For most of the last decade, electric vehicle adoption was a top-down story. Automakers started offering battery-powered models at the high end of the market and slowly worked their way down to more accessible price points.

BYD will accelerate bottom-up EV trend with under-US$11,000 model

Legacy automakers have been sounding optimistic lately about vehicle sales in China heading higher following the great reopening. Volkswagen boss Oliver Blume seemed to come away bullish from his visit in February, and others like BMW have offered similarly positive sentiment.

China slowly squeezes global carmakers out of its massive market

In the last edition of Bloomberg’s Hyperdrive newsletter, BloombergNEF offered up three predictions for the electric vehicle market in 2023: that sales will keep growing, albeit at a slower pace; that this will be a big year for plug-in trucks and vans; and that the global public charging station network will continue to steadily expand.

Today, let’s look at four more prognoses for the year, having to do with Tesla’s budding rivalry with BYD, the outlook for EV startups and battery prices, and the impact of the US Inflation Reduction Act.

BYD challenges Tesla for global electric vehicle sales supremacy

Every year, BloombergNEF’s team of analysts pauses to reflect on what’s happened in our industry and make some predictions on what might be in store next. Each year presents its own challenges, and 2023 is no exception, with economic uncertainty riding high, geopolitical tensions rising and the policy landscape shifting.

Here are three things we’re expecting for the EV market this year, pulled from a full report that BNEF and Bloomberg Terminal clients can find here. I’ll touch on four more of BNEF’s predictions in my next Bloomberg Hyperdrive newsletter column.

Electric vehicles look poised for slower sales growth this year

Bursa Malaysia rebounds in early session, lifted by bargain hunters

Elon Musk knocks Bernard Arnault off the perch to reclaim top spot

Kenanga Research projects  CY23F FBM KLCI earnings to contract by 1.2%

Australia raises minimum wage by 5.75% as living costs surge

HLIB Research says Velesto's valuations have become inflated

Malaysia's corporate profits disappoint on slowing demand, with little help from China reopening

Elon Musk is accused of insider trading by investors in Dogecoin lawsuit

Russia accuses US intelligence of hacking thousands of iPhones

Apple plans major retail push with new stores across China, US

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

Kelington acquires 17% stake of Ace Gases Marketing for RM4.41 mil in share swap deal

Global equities rise, U.S. yields fall after debt ceiling bill advances

Biden trips and falls during graduation ceremony, recovers quickly

Malaysia will not experience water supply crisis during El Nino — SPAN

Colin McKerracher

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Colin McKerracher

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