Consumers’ Shift to EVs ‘Tends to Be Permanent’: Indie Semiconductor CEO
The average “semiconductor content per car” is expected to grow from $500 currently to $4,000 “over the coming decade,” driven by “the long-term structural trend toward electrification,” said indie Semiconductor CEO Donald McClymont on a Q1 earnings call Thursday. “Once…
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consumers make the switch to electric, that shift tends to be permanent, due to higher performance and compelling economics of electric vehicles.” Q1 EV sales were up 76% in the U.S. year over year, compared with a 16% decline for “traditional” new cars and truck sales, he said. Recent polls showed 40% of Americans now expect to own an electric car in the next five years, up from 30% last year, “driven by an increasing demand for fuel-efficient vehicles in response to high gas prices,” he said.