How strong is the outlook for electric vehicles?

In 2022, battery electric vehicles represented nearly 10% of global auto sales, up from a little less than 6% in 2021. This growth can and will continue, says Morningstar. By 2030, Morningstar forecasts EVs will account for 40% of global auto sales and while they will still cost more upfront for most auto categories, falling battery costs will drive cost parity on a total cost of ownership basis over the next couple of years in the majority of autos.