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Tesla, other carmakers’ EV output could ‘vastly outweigh consumer demand’ by 2030: study
With electric vehicles steadily improving and with large markets such as Europe and China embracing sustainable transport, the market for green cars has seen a notable rise. In 2018 alone, two million electric vehicles were sold globally, and all signs point to further growth ahead. In a recent analysis, research firm Deloitte noted that over the next decade, there would probably be an additional 21 million EVs driving on roads across the globe.
Deloitte expects the adoption of electric vehicles to become more widespread in the coming years. From two million in 2018, the research firm expects 4 million EVs to be sold by 2020. By 2025, Deloitte expects global EV sales to hit 12 million. By 2030, the research firm estimates electric vehicle adoption to rise to 21 million units, with battery-electric vehicles such as Tesla’s Model S, 3, and X accounting for roughly 70% of the global auto market’s total EV sales.
Deloitte’s analysis notes that two notable factors primarily drive this strong EV adoption trend. One, there is a growing demand for well-rounded electric vehicles like the Tesla Model 3. Two, government policies from key markets such as Europe and China are becoming more favorable for EVs and EV-buyers, including inner-city restrictions for gasoline and diesel-powered cars.
While electric cars today are still weighed down by their prices, Deloitte’s research suggests that EVs would likely reach cost parity with gasoline and diesel-powered vehicles by 2024. Supported with government subsidies and augmented by technological advances such as Tesla’s ever-evolving driver-assist Autopilot features, the research firm estimates that cost parity with internal combustion-powered cars could be achieved as early as 2021. Michael Woodward, UK automotive partner at Deloitte, explained the firm’s findings as follows.
“In 2018, we saw global EV sales surpass two million units for the first time; twice those sold in 2017. In the UK, the cost of petrol and diesel vehicle ownership will converge with electric over the next five years. Supported by existing government subsidies and technology advances, this tipping point could be reached as early as 2021. From this point, cost will no longer be a barrier to purchase, and owning an EV will become a realistic, viable option for new buyers,” he said.
While Deloitte’s conclusions invoke an air of optimism for the electric car market, though, the research firm’s UK automotive partner warns that there would likely be a point where supply would exceed the demand for electric vehicles. The firm’s research also warns that the number of new and legacy auto manufacturers entering the EV market over the next years would eventually be “unsustainable.”
“Whilst there is a distinct trend developing in the EV market, the story is not a clear cut one. As manufacturers increase their capacity, our projections suggest that supply will vastly outweigh consumer demand by approximately 14 million units over the next decade. This gearing up of EV production is driving a wide ‘expectation gap’ and manufacturers, both incumbent and new entrants alike, will need to adapt towards this new competitive landscape. Those that can successfully build trust in their brand, ensure a positive customer experience from initial sale through to aftercare, and reflect consumer shifts towards the sharing economy in future business models will successfully navigate this. Equally, continual investment in engineering talent and the formation of partnerships with bespoke battery producers and third-party mechanic networks will also be important.”
In a way, the conclusions drawn by Deloitte are a bit strange, since the firm seems to be suggesting that the global demand for electric cars would roughly peak at 21 million a year. Considering that the overall auto market is far larger than 21 million vehicles per year (Statista estimates that over 80 million cars were sold in 2018 alone), the study appears to be suggesting that the demand for gasoline and diesel-powered vehicles would remain steady long after EVs reach cost parity. This is a pretty liberal assumption, which ignores the idea of car buyers completely committing to electric transportation once they try out a premium EV.
Tesla’s growth and triumphs over the years had all but proved that there is a very real demand for premium electric cars in the market. With the release of potentially disruptive vehicles such as the Model Y SUV, the Tesla pickup truck, and the Tesla Semi, the market’s acceptance of electric cars as a preferred form of transportation would likely be even more pronounced. As more car buyers transition to EVs, it would not be too farfetched to assume that the demand for electric cars could far exceed 21 million vehicles per year long after 2030.
Elon Musk
Texas township wants The Boring Company to build it a Loop system
The township’s board unanimously approved an application to The Boring Company’s “Tunnel Vision Challenge.”
The Woodlands Township, Texas, has formally entered The Boring Company’s tunneling sweepstakes.
The township’s board unanimously approved an application to The Boring Company’s “Tunnel Vision Challenge,” which offers up to one mile of tunnel construction at no cost to a selected community.
The Woodlands’ proposal, dubbed “The Current,” features two parallel 12-foot-diameter tunnels beneath the Town Center corridor near The Waterway. Teslas would shuttle passengers between Waterway Square, Cynthia Woods Mitchell Pavilion, Town Green Park and nearby hotels during concerts and large-scale events, as noted in a Chron report.
Township officials framed the tunnel as a solution for the township’s traffic congestion issues. The Pavilion alone hosts more than 60 shows each year and can accommodate crowds of up to 16,500, often straining Lake Robbins Drive and surrounding intersections.
“We know we have traffic impacts and pedestrian movement challenges, especially in the Town Center area,” Chris Nunes, chief operating officer of The Woodlands Township, stated during the meeting.
“The Current” mirrors the Loop system operating beneath the Las Vegas Convention Center, where Tesla vehicles transport passengers through underground tunnels between venues and resorts.
The Boring Company issued its request for proposals (RFP) in mid-January, inviting cities and districts to pitch local uses for its tunneling technology. The Woodlands must submit its application by Feb. 23, though no timeline has been provided for when a winning community will be announced.
Nunes confirmed that the board has authorized a submission for “The Current’s” proposal, though he emphasized that the project is still in its preliminary stages.
“The Woodlands Township Board of Directors has authorized staff to submit an application to The Boring Company, which has issued an RFP for communities interested in leveraging their technology to address community challenges,” he said in a statement.
“The Board believes that an underground tunnel would provide a safe and efficient means to transport people to and from various high-use community amenities in our Town Center.”
News
Tesla Model Y wins 2026 Drive Car of the Year award in Australia
The Model Y is already Australia’s best-selling EV in 2025 and the tenth best-selling vehicle overall.
The Tesla Model Y has been named 2026 Drive Car of the Year overall winner, taking the top honor after being judged as the vehicle that “moves the game forward the most for Australian new car buyers.”
The Model Y is already Australia’s best-selling EV in 2025 and the tenth best-selling vehicle overall, but the vehicle’s Juniper update strengthened its case with new ownership benefits and expanded software capability.
Drive’s overall award compares category winners and looks at which model most significantly advances the local new car market. In 2026, judges pointed to the Model Y’s five-year warranty and the availability of Full Self-Driving (Supervised) as a monthly subscription as key differentiators.
Priced from AU$58,900 before on-road costs, the all-electric crossover SUV offers a lot of value compared to similarly sized petrol and hybrid rivals. The ability to access Tesla’s Supercharger network across Australia also reduces friction for buyers moving to EV ownership.
Owners can add FSD (Supervised) for AU$149 per month. While it still requires driver oversight, the system expands the vehicle’s advanced driver-assistance capabilities and reflects Tesla’s software-first approach.
“The default choice for a reason. The Tesla Model Y makes the transition to electric both effortless and rewarding,” Drive wrote.
The 2025 Model Y facelift also sharpened the vehicle’s exterior, highlighted by a distinctive rear light bar that gives the crossover SUV a more modern road presence.
Drive described the Model Y as a benchmark for combining practicality, efficiency and technology at an accessible price point. With eligibility for federal Fringe Benefit Tax exemptions through novated leasing, its value proposition has improved for numerous buyers.
For 2026, the Model Y’s combination of range efficiency, charging access and software capability proved decisive. Ultimately, the award all but cements the Model Y’s position as one of the most influential vehicles in Australia’s evolving new-car market today.
Elon Musk
Elon Musk reiterates rapid Starship V3 timeline with next launch in sight
Musk shared the update in a brief post on X, writing, “Starship flies again next month.”
Elon Musk has confirmed that Starship will fly again next month, reiterating SpaceX’s aggressive timeline for the first launch of its Starship V3 rocket.
Musk shared the update in a brief post on X, writing, “Starship flies again next month.” The CEO’s post was accompanied by a video of Starship’s Super Heavy booster being successfully caught by a launch tower in Starbase, Texas.
The timeline is notable. In late January, Musk stated that Starship’s next flight, Flight 12, was expected in about six weeks. This placed the expected mission date sometime in March. That estimate aligned with SpaceX’s earlier statement that Starship’s 12th flight test “remains targeted for the first quarter of 2026.”
If the vehicle does indeed fly next month, it would mark the debut of Starship V3, the upgraded platform expected to feature the rocket’s new Raptor V3 engines.
Raptor V3 is designed to deliver significantly higher thrust than earlier versions while reducing cost and weight. Starship V3 itself is expected to be optimized for manufacturability, a critical step if SpaceX intends to scale production toward frequent launches for Starlink, lunar missions, and eventually Mars.
Starship V3 is widely viewed as the version that transitions the program from experimental testing to true operational scaling. Previous iterations have completed multiple integrated flight tests, with mixed outcomes but steady progress. Expectations are high that SpaceX is now working on Starship’s refinement.
An aggressive launch schedule supports several priorities at once. It advances Starlink’s next-generation satellite deployment, supports NASA’s lunar ambitions under Artemis, and keeps SpaceX on track for its longer-term Moon and Mars objectives.
Texas township wants The Boring Company to build it a Loop system
Tesla Model Y wins 2026 Drive Car of the Year award in Australia
