Uncertainty over Trump's electric vehicle policies clouds 2025 forecast for carmakers

Electric vehicle demand is expected to keep rising this year, but uncertainty over policy changes and tariffs is clouding the forecast. Sales have steadily risen for years. S&P Global Mobility expects sales to rise 30% globally in 2025, with battery electric vehicles making up 16.7% of the market share for light vehicles. Donald Trump’s presidency could mean big policy shifts in tax and other incentives for both electric vehicle makers and consumers. The threat of tariffs on imports and retaliatory tariffs globally, could further complicate production and sales for electric vehicles.