The EV race is heating up – electric vehicles are very much thought of as being the future of mobility across the world. While a full transition to electric vehicles is plenty far off, every major region in the world is seeing the urgency posed by climate change, resulting in increased sales and development of electric vehicles. Let’s take a look at how the EV industry across the world is shaping up.
In December of 2021, EV sales overtook those of diesel vehicles in Europe for the first time ever. According to the Financial Times, more than a fifth of the new cars sold across several European markets, including the UK, were exclusively battery-powered. Contrariwise, diesel cars and diesel hybrids made up less than 19% of car sales.
Despite the sale of EVs – and cars in general – slowing heavily during the pandemic, the Asia-Pacific market for electric cars is predicted to reach a value of over $750 billion by the year 2028. Thailand, for example, has produced an EV ‘roadmap’ to establish itself as a hub for EVs in Asia by 2025, with the goal of producing 250,000 cars by then. Up until recently, the high cost of electric cars was a barrier for their growth in this region, but various governments in the APAC region have taken steps to phase out ICE vehicles over the next ten years, paving the way for the market to grow.
Motor giant Ford Motors reached a milestone valuation of $100 billion for the first time ever, thanks in part to their well-publicized plans to ramp up their EV production. The conglomerate is now worth more than both General Motors and Rivian, its closest rivals in terms of EV and wider motor production. The company’s shares skyrocketed a whopping 140% in 2021, outperforming even Tesla, which rose 50%, and making it the automotive industry’s top-performing stock.
Mexico is the seventh largest producer of automotive vehicles in the world, making it no surprise that large manufacturers are choosing Mexico as their primary location to build out their EV production sites. Because of the country’s close proximity to the United States and array of dense supply chain networks, it is well suited to provide vehicles for the entire continent. General Motors recently announced an investment of more than $1 billion in Mexico, specifically to produce EVs. The company is pivoting towards becoming a provider of exclusively electric vehicles by 2035.
The Skills Gap in the Future of Mobility
It goes without saying that in order to build a sustainable future with EVs being a cornerstone, a strong workforce with the appropriate and relevant skills is needed. Building a talent bench capable of supporting such growth is crucial for the success of EV expansion. This means that the job market is expanding rapidly as well. Because of the EV transition specifically, there is a strong pool of R&D positions focused on Autonomous Driving Systems. This is an example of some of the more unique skillsets required as the EV business expands.
At Proco Global, it’s our job to take a deep dive into the talent pools out there to find the best candidates for every position across the executive level supply chain. Please feel free to get in touch with me to discuss how we can help you implement your vision of the future through talent. We can help you find the best people, for your people.
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