The EV market is on the growth track: Some 18% of all vehicle sales in 2023 could be electric vehicles (EVs) — a 35% y-o-y increase, a new report (pdf) by the International Energy Agency (IEA) finds. While the same heavyweights have solidified their position at the helm of the market, we are seeing an expansion in players as new dynamics, demands, and diversity emerge in the world of EVs, the report notes.

China, Europe, and the US will be joined by newcomers in 2023: Last year, China led the way, representing around 60% of global sales of EVs, already exceeding the nation’s 2025 target, the report notes. EV sales are also on the rise across Europe, with a 15% increase in 2022 and the US has expanded its sales to reach an 8% slice of the global EV market. Other contenders like Thailand and Indonesia are also claiming new spaces in the arena with India being the most aggressive frontrunner.

The stakes are high because it’s about more than just vehicle sales. The EV market has spurred the birth of an entire supply chain — a fact that all major players are all too aware of. While China remains the unchallenged EV mogul, the Indian government is pushing for greater local manufacture of components — chiefly batteries — through incentive programs reaching USD 3.2 bn, and attracting USD 8.3 bn in investments to advance national competitiveness, the report highlights.

But changes are swift: As governments compete over components and minerals needed to make EV production come full circle, the spike in demand is also accelerating change. Already, we are seeing increasingly more lithium-ion substitutes available.

The many perks of competitiveness: Beyond the implications on climate goals and rising energy prices, the unprecedented global spending on EVs bodes well for buyers.In 2022, the world’s EV invoice climbed to USD 425 bn: A 50% increase from 2021, the report indicates. This means more affordable models and a greater variety where both cars and two- and three-wheelers — which are key to emerging markets’s sustainable development — are concerned.

Hollywood braces for writers’ strike: The Writers Guild of America (WGA)announced that 11,500 of its unionized screenwriters will go on a strike today following unsuccessful contract negotiations with major studios including Disney and Netflix. Last month, 98% of WGA members authorized the union to go on strike if an agreement was not reached.

Studios fail to meet writers’ demands: The union has been negotiating contracts that would improve compensations and residuals, but the studios’ responses have fallen short, with the union saying that it could not fulfill all aspects of the proposal that the guild continued to insist upon.

What TV shows would be affected? Late-night talk shows such as The Late Show with Stephen Colbert, Jimmy Kimmel Live, and The Tonight Show Starring Jimmy Fellon will be the first to grind to a halt on Tuesday. The impact of the strike could be severe, leading to a shutdown to Hollywood productions, delays in filming, and California’s economy losing USD bns.

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