{"id":585973,"date":"2023-05-02T00:00:00","date_gmt":"2023-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/evs-are-taking-up-a-bigger-slice-of-the-automotive-market-a-writers-strike-could-shut-down-hollywood-productions\/"},"modified":"2023-05-02T00:00:00","modified_gmt":"2023-05-02T00:00:00","slug":"evs-are-taking-up-a-bigger-slice-of-the-automotive-market-a-writers-strike-could-shut-down-hollywood-productions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/evs-are-taking-up-a-bigger-slice-of-the-automotive-market-a-writers-strike-could-shut-down-hollywood-productions\/","title":{"rendered":"EVs are taking up a bigger slice of the automotive market + A writers\u2019 strike could shut down Hollywood productions"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">The EV market is on the growth track:<\/span><span style=\"\"> Some 18% of all vehicle sales in 2023 could be<\/span><span> electric vehicles (EVs) \u2014 a 35% y-o-y increase, a new <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/914.pdf\" style=\"\">report (pdf)<\/a><\/span><span> by the International Energy Agency (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iea.org\/\" style=\"\">IEA<\/a><\/span><span style=\"font-weight:400;\">) 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">China, Europe, and the US will be joined by newcomers in 2023:<\/span><span style=\"\"> Last year, China led the<\/span><span style=\"font-weight:400;\"> way, representing around 60% of global sales of EVs, already exceeding the nation\u2019s 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The stakes are high because it\u2019s about more than just vehicle sales.<\/span><span style=\"\"> The EV market has<\/span><span style=\"font-weight:400;\"> spurred the birth of an entire supply chain \u2014 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 \u2014 chiefly batteries \u2014 through incentive programs reaching USD 3.2 bn, and attracting USD 8.3 bn in investments to advance national competitiveness, the report highlights. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">But changes are swift:<\/span><span style=\"\"> As governments compete over components and minerals needed to<\/span><span style=\"font-weight:400;\"> make EV production come full circle, the spike in demand is also accelerating change. Already, we are seeing increasingly more lithium-ion substitutes available. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The many perks of competitiveness:<\/span><span style=\"\"> Beyond the implications on climate goals and rising<\/span><span> energy prices, the unprecedented global spending on EVs bodes well for buyers.<\/span><span style=\"font-weight:400;\">In 2022, the world\u2019s 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 \u2014 which are key to emerging markets\u2019s sustainable development \u2014 are concerned.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Hollywood braces for writers\u2019 strike:<\/span><span style=\"\"> The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wga.org\/\" style=\"\">Writers Guild of America (WGA)<\/a><\/span><span style=\"\">announced that<\/span><span> 11,500 of its unionized screenwriters will go on a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/WGAWest\/status\/1653242408195457025\" style=\"\">strike<\/a><\/span><span style=\"font-weight:400;\"> 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Studios fail to meet writers\u2019 <\/span><span style=\"font-weight:700\">demands<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\"> The union has been negotiating contracts that would<\/span><span> improve compensations and residuals, but the studios\u2019 responses have fallen short, with the union saying that it could not fulfill all aspects of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wgacontract2023.org\/uploadedfiles\/members\/member_info\/contract-2023\/wga_proposals.pdf\" style=\"\">proposal<\/a><\/span><span style=\"font-weight:400;\"> that the guild continued to insist upon. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What TV shows would be affected?<\/span><span style=\"\"> Late-night talk shows such as The Late Show with<\/span><span style=\"font-weight:400;\"> 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\u2019s economy losing USD bns.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More countries are joining the push to grow the global EV market<\/p>\n","protected":false},"author":1,"featured_media":585974,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[144,633,356,667,638],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-automotive","tag-enterprisepm","tag-evs","tag-film","tag-for-your-commute","wpautop","entry"],"acf":{"mongo_id":"f66d4ed3-15b0-4dce-ae6f-13ec447e9721","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/3.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[585968],"teaser":"More countries are joining the push to grow the global EV market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.5bd33a8a-aa83-4229-b04a-708eef272749.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EVs are taking up a bigger slice of the automotive market + A writers\u2019 strike could shut down Hollywood productions - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/evs-are-taking-up-a-bigger-slice-of-the-automotive-market-a-writers-strike-could-shut-down-hollywood-productions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EVs are taking up a bigger 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