Q1 2024 Automotive industry demand forecast

The data in these demand graphs is based on APC insight gathered from UK OEMs on xEV production; APC and Automotive Council PEMD traction specifications; and powertrain split forecasts from S&P Global IHS Markit. Rho Motion, BloombergNEF (BNEF), and Wood Mackenzie have also guided the demand forecast.

 Key headlines

The report outlines the next steps needed for the industry to maintain the growth trend, including: 

  • For the UK automotive industry to continue to grow, new models or new OEMs need to be attracted to the UK.
  • Value in today’s liquid electrolyte is relatively low, but semi-solid and solid-state electrolytes are a key investment consideration. 
  • Separators are relatively low value and quick to establish production. However, capacity in Europe is low and looks likely to remain low. There are significant opportunities to localise in UK. 

Published: 18/06/2024

Q1 2024 Automotive industry demand forecast

Our Q1 2024 Quarterly Automotive Demand Forecast report reveals Battery Electric Vehicle (BEV) production in the UK is expected to top one million between 2030 and 2035, creating a demand for over 100 GWh of automotive batteries.