Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 934

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 934
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 more painful adjustment subsequently. Delays in addressing implicit local government debt may hold back infrastructure investment. Sanctions on frontier technologies might lead to reshuffling of global value chains, disrupting production in high-tech intensive and import-dependent domestic manufacturing sectors in the short run, and reducing productivity growth in the longer term. Monetary and fiscal policy should continue to support growth in the near term but avoid adding to financial risks. Amid unfavorable demographic prospects and labor shortages, high youth unemployment rates need to be brought down by better matching training options and skills needed in the market as well as better managing expectations with regards to job choices. To rebalance the economy towards consumption and reduce savings, a stronger social safety net is needed. Unemployment insurance coverage should be extended to all, and pensions should provide at least a minimum standard of living to all eligible people. Furthermore, the list of treatments and medicines covered by health insurance should be widened so that health costs do not push people into poverty. Reforms to create a level Annex D-2-3 playing field and enhance competition would help the private sector recovery. Stronger consumer protection could also boost competitive pressures. Administrative monopolies, often with exclusive rights to provide certain goods and services, should be dismantled. Recent measures aimed at creating a single domestic market are a welcome step. Meeting the ambitious climate targets requires a timely phase out of coal-fired power plants. Global Electric Vehicle Outlook 5 Electric car markets are seeing exponential growth as sales exceeded 10 million in 2022. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Three markets dominated global sales. China was the frontrunner once again, accounting for around 60% of global electric car sales. More than half of the electric cars on roads worldwide are now in China and the country has already exceeded its 2025 target for new energy vehicle sales. In Europe, the second largest market, electric car sales increased by over 15% in 2022, meaning that more than one in every five cars sold was electric. Electric car sales in the United States—the third largest market—increased 55% in 2022, reaching a sales share of 8%. Electric car sales are expected to continue strongly through 2023. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. We currently expect to see 14 million in sales