Wide-scale electric vehicle (EV) adoption creates substantial economic opportunities as well as complex threats to G20 economies. G20 countries account for over 90 percent of final production and 86 percent of value-added in global demand for automobiles—both internal combustion engine (ICE) vehicles and EVs. Their path toward EV production, however, has been uneven, with five companies capturing 55 percent of this rapidly growing market in 2023.