2 May 2024: Hybrid and EREV market share growth overtaking BEV supports higher-for-longer automotive PGM demand: 30 April 2024: Hybrid and EREV market share growth overtaking BEV supports higher-for-longer automotive PGM demand: PGM sentiment has been affected by the drivetrain transition where rising BEV market share weighs on PGM demand expectations. In reality, explosive BEV growth has slowed and is being comfortably outpaced by PGM-containing hybrids and extended range electric vehicles (EREVs) that support a ‘higher-for-longer’ automotive PGM demand outlook. Accordingly, WPIC forecasts only a muted tapering of PGM automotive demand over the next five years at 1.1% CAGR, suggesting demand erosion projections are overdone.
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