CCC Trends: Electric Vehicles Go Mainstream – Implications for the P&C Insurance Economy
The latest CCC Trends report analyzes emerging trends in electric vehicles. This year, the U.S. has joined numerous countries using the pandemic as an impetus to shift their vehicles in operation from internal combustion engine vehicles to electric vehicles (EVs). Driven by new federal requirements from the Biden administration, as well as competition with China’s aggressive goals to move to an electric vehicle fleet, automakers and many of their suppliers have announced that they will be making significant investments in electric vehicles and battery technologies. Consumer acceptance of EVs is expected to grow, and sales in the U.S. have already begun to ramp up.
Read the full report to learn more about emerging electric vehicle trends and the challenges and opportunities they pose for businesses across the P&C insurance ecosystem.