The future of electric vehicles: Jessica Amir on 2GB

Moomoo Market Strategist Jessica Amir joined Deborah Knight on 2GB to discuss the future of electric vehicles, why they are going to get a lot cheaper, and what EVs are expected to hit Australian shores. This interview was recorded on Channel 9's 2GB radio station on Thursday, April 4, 2024.

Jessica pointed out two reasons for the decrease in EV prices. Firstly, there is intense competition in the EV market. Tesla's sales declined year-on-year for the first time since the pandemic, largely due to increased competition from China. Global sales of China's BYD rose this year, and Geely, the parent company of Volvo, plans to launch EVs in Australia later this year. Its EV sales rank among the top three in China.

Secondly, the availability of cheaper and more advanced batteries is impacting sales. For example, Xiaomi's EV can be charged in 5 minutes, while Tesla's requires 30 minutes using a fast charger. Deborah Knight noted that Australia also requires cheaper batteries to make EVs more affordable.

Please click the following link to watch the interview:https://omny.fm/shows/money-news/money-news-with-deborah-knight-4th-april?t=24m30s