電気自動車市場 – 2030年までの世界予測

Electric Vehicle Market - Global Forecast to 2030

電気自動車市場 - コンポーネント、車両タイプ、車両クラス、推進力 (BEV、PHEV、FCEV)、車両駆動タイプ (FWD、RWD、AWD)、E/E アーキテクチャ、最高速度、充電ポイントのタイプ、車両接続性、最終用途、および地域別 - 2030年までの世界予測
Electric Vehicle Market by Component, Vehicle Type, Vehicle Class, Propulsion (BEV, PHEV, FCEV), Vehicle Drive Type (FWD, RWD, AWD), E/E Architecture, Top Speed, Charging Point Type, Vehicle Connectivity, End Use, & Region - Global Forecast 2030

出版社MarketsandMarkets
出版年月2024年8月
ページ数374
図表数382
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The global electric vehicles market is projected to grow from USD 396.4 Billion in 2024 to USD 620.3 Billion by 2030, registering a CAGR of 7.7%.

世界の電気自動車市場は、2024 年の 3,964 億米ドルから 2030 年までに 6,203 億米ドルに成長し、7.7% の CAGR を記録すると予測されています。

電気自動車市場 - 2030年までの世界予測
electric-vehicle-market

The global electric vehicle (EV) market has well developed over the years due to several factors. Emerging environmental consciousness for air pollution and greenhouse gas emissions, among others, has led the governments across the globe to put supportive policies, which involve subsidies, tax exemptions, and stringent emission standards, in favor of electric transport. There have been recent advances in battery technology, especially high-capacity, fast-charging batteries that make EVs more usable over a reasonable range, thus allowing consumer adoption where they help to manage congestion and pollution. Altogether these factors have led to the growth of a global and active market of EV that has gradually witnessed the growth of consumer demand and provisions for electric vehicles.

“Supportive government regulations and subsidies to drive market.”

The passenger car segment is the largest by vehicle type and mainly comprises sedans, hatchbacks, station wagons and SUVs/MUVs and other car types. Passenger car segment is ideal for the EVs since it remains the biggest segment of the automotive industry. Thus, it is increasing at a higher growth rate in the emerging economy of the Asia Pacific region because of the increasing GDP and population, the enhancement in people’s living standards, enhanced purchasing power of the consumers, and the advancement of the structure in the Asia Pacific region in combination with support from government policies in countries like China, Japan, and South Korea targetting the reduction in zero emission vehicles.

Because of various alternatives, sophisticated technologies, increased client knowledge and government incentives, electric passenger cars are the most preferred division which is also having greatest predicted CAGR. Major players in this area are behemoths such as BYD, Tesla, Volkswagen and more with the best selling models for 2023 being the Tesla Model Y, BYD Song and Wuling HongGuang Mini EV.

Countries like China exhibit a short waiting time for EVs compared to ICE vehicles. Forcing of emission norms is on the rise and therefore EU Member States have put forward the goal of reducing emissions by 2030-2035. The US government has strategies targeting a 50% electricization of its running fleets by the year 2030.

“Rising demand for high-performance electric vehicles to drive market.”

The EV markets of Europe and North America are being led by high-end vehicles having the largest battery capacities, longest ranges, quickest acceleration times, and highest top speeds. These are some of the costliest cars on the road today consisting of a plethora of mid-range electric models. Some of the traditional car makers such as Tesla, Volvo, Mercedes Benz, BMW and Volkswagen and specialized EV makers in this segment make to segment vehicles. Some of the global high performance electric vehicles are Mercedes-AMG EQS, Porsche Taycan Turbo S, Audi RS e-tron GT, and among others. Most of these EVs are in the category of luxury EVs and hyper-cars. At the Beijing Auto Show in April 2024, Geely showcased it new PHEV flagship SUV Geely Galaxy Starship with the top speed of around 146 MPH. The >125 mph segment is primarily dominated by the Asia Pacific region which appears to have more demand for premium cars electric vehicles. Some of the world’s leading markets for these vehicles are China, Japan Germany and France with many regional Manufacturers. North America also shows an increasing trend for higher speed electric vehicles. Customers are seeking such vehicles as well as their enhanced functions, which consist of improved acceleration. A car that can be leased/acquired from Tesla includes the Tesla Model S Plaid that has a maximum speed of ~ 204 mph.

電気自動車市場 - 2030年までの世界予測 ecosystem
electric-vehicle-market-ecosystem

“Improved range and battery efficiency to drive market.”

The mid-power EVs are positioned at an important class within the automotive industry, which is between the affordable products and the improved characteristics. Sitting between Economy and Premium models, mid-range of charging is for those buyers who are not looking for cheap cars but rather a good value car with efficiency, advanced technologies and comfort incorporated to their electric vehicles. These vehicles are available for roughly between $30000 to $45000 for persons seeking better capabilities and refined ride. Another profound feature is that mid-priced EVs have longer ranges and better batteries as compared to the low-priced ones. Manufacturers are incorporating larger batteries and better ways of transfering power to cover more distance in a single charge. This makes them possible to use for daily usage and also for longer road trips and this eliminates the biggest hindrance that a lot of people have about EVs-range anxiety. Also, mid-priced EVs often come with faster charging options, which means less time is spent charging the car and more is spent driving it, which is a big plus for owners. Hyundai, General Motors, Honda, Nissan among other extensively developed car producers are also producing mid-priced EVs to gain better market shares. Other mid-priced EVs are BMW 3 Series PHEV, Zeekr One, Ford Mustang Mach-E, Volvo XC40, Renault Megane EV, Hyundai Ioniq 5, Volkswagen ID-4, Kia Niro EV.

“Stricter emission regulations to drive market.”

The market for BEVs has been on the rise following several critical factors that are pushing towards making their use more rife in the society. This is due to growing awareness to environment degradations such as climate change and air pollution in the current society. BEVS do not emit any exhaust pipe pollutants and thus could be seen as an answer to cutting down GHG and enhancing IAQ. Customers globally are forcing governments to set high emission standards while simultaneously promoting EVs through tax credit, rebates and subsidies. Also, more and more communities are implementing low-emission zones and encouraging the adoption of efficient means of transport, which will also spur BEV sales.

Other factors contributing to the growth of the BEV market have also been improvements in battery technology thanks to exploitations in technology. Advancements pertaining to battery improvements, costs, and charging times have made the use of BEVs a more practical and feasible solution for customers. Among the solutions, efforts of various stations for charging the cars and installation of superchargers eliminated the issue of range anxiety and made the car operation more comfortable. Moreover, the automotive industry’s transition to electrification with car manufacturers and brands focusing on EV production and launching new appealing BEV models has also broadened the range meeting demand and choice requirements of consumers. Such factors as nature friendliness, increasing customer knowledge and awareness, and desirable perceptions towards BEVs are factors that have contributed to the growth of the BEV market.

Segmented into sedans, SUVs and hatchbacks (to mention but a few), BEVs are available in various segments with OEMs indeed introducing electric models more frequently owing to the growing demand for them. There exists a number of leading global EV manufacturers such as Tesla, BYD, Volkswagen AG, SAIC Motors among others like Geely-Volvo or Stellantis. At the same time, Nissan and others including Toyota and General Motors also remain as close competitors. In April 2024, it was Tesla that introduced its updated Model 3 Performance with maximum speed of 163 mph (263 km/h) with rear-wheel drive transmission system only.

電気自動車市場 - 2030年までの世界予測 region
electric-vehicle-market-region

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

  • By Company Type: OEMs – 30%, Tier I – 60%, Tier II & III – 10%,
  • By Designation: CXOs – 35%, Managers– 50%, Executives– 15%
  • By Region: North America– 20%, Europe – 20%, Asia Pacific– 50% and Middle East & Africa – 10%

The electric vehicle market is dominated by global players such as BYD (China), Tesla (US), Volkswagen AG (Germany), Geely-Volvo (China) and SAIC Motors (China). These companies manufacture and develop new technologies in electric vehicle market. For instance, in May 2024, BYD launched the e-Platform 3.0 Evo, an upgraded version of its battery electric vehicle (BEV) model platform, as well as the first model based on the new platform, the Sea Lion 07 EV. Additionally, in May 2024, Volkswagen partnered with SAIC Motor for its premium brand Audi to develop a new China-specific platform for intelligent and electric vehicles. BYD has adopted strategies such as product developments and deals, whereas Volkswagen has expaned in new region to gain traction in the market. In February 2024, BYD, and the Emil Frey Group, have agreed on a partnership to distribute and sell BYD’s range of innovative electric vehicles in Switzerland and Liechtenstein. Additionally, in April 2024, Volkswagen announced plans to invest USD 210 million to upgrade and modernize its Kariega, South Africa plant to support the production of a new SUV-type model starting in 2027.

Research Coverage:

The market study covers the electric vehicle market size and future growth potential across different segments by component, vehicle type, vehicle class, propulsion, vehicle drive type, E/E architecture, top speed, charging point type, vehicle connectivity, end use and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of the Report

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric vehicle market and its subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Government incentives for electrification, Lower operating costs, Advancement in Battery Technology, Lower emissions), restraints (High upfront costs of electric vehicles, High initial investments for installing EV fast charging infrastructure, Battery Longevity and Replacement Costs), opportunities (Rapid Investment in charging infrastructure, Advancement in wireless EV charging technology for on-the-go charging, Use of EVs for fleets and commercial applications), and challenges (Longer Charging Time,Lack of standardization of EV charging infrastructure)
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the electric vehicle market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the electric vehicle market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric vehicle market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like BYD (China), Tesla (US), Volkswagen AG (Germany), Geely-Volvo (China), SAIC Motors (China), and among others in the electric vehicle market.
  • Strategies: The report also helps stakeholders understand the pulse of the electric commercial vehicle market and provides them information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1            INTRODUCTION            26

1.1         STUDY OBJECTIVES      26

1.2         MARKET DEFINITION   26

1.2.1      INCLUSIONS AND EXCLUSIONS 32

1.3         MARKET SCOPE             33

1.3.1      YEARS CONSIDERED     34

1.4         CURRENCY CONSIDERED          34

1.5         UNITS CONSIDERED     35

1.6         STAKEHOLDERS            35

1.7         SUMMARY OF CHANGES            35

2            RESEARCH METHODOLOGY     36

2.1         RESEARCH DATA           36

2.1.1      SECONDARY DATA       37

2.1.1.1   List of secondary sources   38

2.1.1.2   Key data from secondary sources     39

2.1.2      PRIMARY DATA 39

2.1.2.1   Primary interviews             40

2.1.2.2   List of primary interview participants             40

2.2         MARKET SIZE ESTIMATION       41

2.2.1      BOTTOM-UP APPROACH           41

2.2.2      TOP-DOWN APPROACH             42

2.3         DATA TRIANGULATION             44

2.4         FACTOR ANALYSIS        45

2.5         RESEARCH ASSUMPTIONS         47

2.6         RESEARCH LIMITATIONS           48

2.7         RISK ANALYSIS 49

3            EXECUTIVE SUMMARY 50

4            PREMIUM INSIGHTS      54

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC VEHICLE MARKET            54

4.2         ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE          55

4.3         ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE            55

4.4         ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS           56

4.5         ELECTRIC VEHICLE MARKET, BY PROPULSION 56

4.6         ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED 57

4.7         ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE 57

4.8         ELECTRIC VEHICLE MARKET, BY E/E ARCHITECTURE   58

4.9         ELECTRIC VEHICLE MARKET, BY REGION          58

5            MARKET OVERVIEW     59

5.1         INTRODUCTION            59

5.2         TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS              60

5.3         MARKET DYNAMICS     61

5.3.1      DRIVERS            61

5.3.1.1   Government incentives for electrification      61

5.3.1.2   Low operating cost             63

5.3.1.3   Advancements in battery technology 63

5.3.1.4   Low emissions     65

5.3.2      RESTRAINTS     68

5.3.2.1   High upfront cost 68

5.3.2.2   High initial investments for installing electric vehicle fast-charging infrastructure              69

5.3.2.3   Battery longevity and replacement cost          71

5.3.3      OPPORTUNITIES           72

5.3.3.1   Rapid investment in charging infrastructure  72

5.3.3.2   Advancement in wireless electric vehicle charging technology for on-the-go charging 72

5.3.3.3   Use of electric vehicles for fleets and commercial applications   73

5.3.4      CHALLENGES   75

5.3.4.1   Longer charging time         75

5.3.4.2   Lack of standardization of electric vehicle charging infrastructure            76

5.4         EXISTING AND UPCOMING ELECTRIC VEHICLE MODELS, 2024–2026              79

5.5         IMPACT OF AI/GENERATIVE AI IN ELECTRIC VEHICLE MARKET              80

5.6         TOTAL COST OF OWNERSHIP   80

5.7         BILL OF MATERIALS ANALYSIS 82

5.8         INVESTMENT AND FUNDING SCENARIO            83

5.9         OEM ELECTROMOBILITY PROGRESS    84

5.9.1      OEM TARGETS AND INVESTMENTS       85

5.10       ECOSYSTEM ANALYSIS 86

5.10.1    ELECTRIC VEHICLE CHARGING PROVIDERS      87

5.10.2    SOFTWARE PROVIDERS             87

5.10.3    BATTERY MANUFACTURERS     87

5.10.4    COMPONENT MANUFACTURERS           87

5.10.5    OEMS   87

5.10.6    END USERS       87

5.11       SUPPLY CHAIN ANALYSIS          90

5.12       KEY STAKEHOLDERS AND BUYING CRITERIA    91

5.12.1    PASSENGER CARS          91

5.12.2    COMMERCIAL VEHICLES           91

5.12.3    KEY STAKEHOLDERS IN BUYING PROCESS         92

5.12.4    BUYING CRITERIA         93

5.13       PRICING ANALYSIS        94

5.13.1    AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE, 2021–2023 94

5.14       KEY CONFERENCES AND EVENTS IN 2024–2025 95

5.15       TECHNOLOGY ANALYSIS           96

5.15.1    KEY TECHNOLOGIES    96

5.15.1.1 V2X charging       96

5.15.1.2 V2L       97

5.15.2    ADJACENT TECHNOLOGIES      98

5.15.2.1 Solid-state batteries           98

5.15.2.2 Direct borohydride fuel cells            100

5.15.3    COMPLEMENTARY TECHNOLOGIES     101

5.15.3.1 IoT in electric vehicles       101

5.15.3.2 Methane fuel cells 102

5.16       PATENT ANALYSIS        103

5.17       TRADE ANALYSIS          108

5.18       CASE STUDY ANALYSIS 108

5.18.1    ELECTRIC VEHICLE FLEETS FOR PUBLIC SECTOR IN VERMONT, US              108

5.18.2    ACOUSTIC INNOVATION BY HYUNDAI IN ELECTRIC VEHICLES 109

5.18.3    CREATIVE APPROACH BY BMW TO ELECTRIC VEHICLE SOUND DESIGN              110

5.18.4    MERCEDES-BENZ’S ACOUSTIC VEHICLE ALERTING SYSTEM SET NEW STANDARD FOR ELECTRIC CARS           110

5.19       REGULATORY LANDSCAPE       111

5.19.1    REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 111

5.19.2    ELECTRIC VEHICLE INCENTIVES, BY KEY COUNTRIES   114

5.19.2.1 Netherlands         114

5.19.2.2 Germany             115

5.19.2.3 France   116

5.19.2.4 UK         117

5.19.2.5 China     118

5.19.2.6 US         118

5.19.2.7 Austria   119

5.20       FUNDING BY USE CASE APPLICATION  120

6            ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE            121

6.1         INTRODUCTION            122

6.2         OPERATIONAL DATA   124

6.3         PASSENGER CAR            126

6.3.1      SUPPORTIVE GOVERNMENT REGULATIONS AND SUBSIDIES TO DRIVE MARKET            126

6.4         COMMERCIAL VEHICLE             128

6.4.1      URBANIZATION AND SUSTAINABILITY GOALS TO DRIVE MARKET              128

6.5         KEY PRIMARY INSIGHTS             129

7            ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED 130

7.1         INTRODUCTION            131

7.2         OPERATIONAL DATA   132

7.3         <125 MPH          133

7.3.1      FOCUS ON EFFICIENCY AND RANGE TO DRIVE MARKET            133

7.4         >125 MPH          134

7.4.1      RISING DEMAND FOR HIGH-PERFORMANCE ELECTRIC VEHICLES TO DRIVE MARKET 134

7.5         KEY PRIMARY INSIGHTS             135

8            ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE 136

8.1         INTRODUCTION            137

8.2         OPERATIONAL DATA   139

8.3         FRONT-WHEEL DRIVE  141

8.3.1      BETTER TRACTION AND HIGHER POWER SAVINGS THAN REAR-WHEEL DRIVE VEHICLES TO DRIVE MARKET    141

8.4         REAR-WHEEL DRIVE     142

8.4.1      SUPERIOR PERFORMANCE AND HANDLING FEATURES TO DRIVE MARKET            142

8.5         ALL WHEEL DRIVE        143

8.5.1      HIGHER TRACTION AND PERFORMANCE TO DRIVE MARKET   143

8.6         KEY PRIMARY INSIGHTS             144

9            ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS           145

9.1         INTRODUCTION            146

9.2         OPERATIONAL DATA   147

9.3         LOW-PRICED    148

9.3.1      RISING DEMAND FOR AFFORDABLE ELECTRIC VEHICLES DUE TO FOCUS ON ENVIRONMENTAL CONCERNS TO DRIVE MARKET  148

9.4         MID-PRICED     150

9.4.1      IMPROVED RANGE AND BATTERY EFFICIENCY TO DRIVE MARKET              150

9.5         LUXURY             151

9.5.1      HIGH-PERFORMANCE ELECTRIC DRIVETRAINS TO DRIVE MARKET              151

9.6         KEY PRIMARY INSIGHTS             152

10          ELECTRIC VEHICLE MARKET, BY VEHICLE CONNECTIVITY       153

10.1       INTRODUCTION            153

10.2       V2B OR V2I        155

10.3       VEHICLE-TO-GRID        155

10.4       VEHICLE-TO-VEHICLE 156

11          ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE          157

11.1       INTRODUCTION            158

11.2       OPERATIONAL DATA   159

11.3       AC (NORMAL CHARGING)         160

11.3.1    HIGH DEMAND IN HOME CHARGING IN EMERGING ECONOMIES TO DRIVE MARKET 160

11.4       DC (SUPERCHARGING) 161

11.4.1    RISING INVESTMENT IN SUPERCHARGING NETWORK BY OEMS AND CHARGING PROVIDERS TO DRIVE MARKET      161

11.5       INDUCTIVE CHARGING 163

11.6       KEY PRIMARY INSIGHTS             164

12          ELECTRIC VEHICLE MARKET, BY PROPULSION 165

12.1       INTRODUCTION            166

12.2       OPERATIONAL DATA   168

12.3       BATTERY ELECTRIC VEHICLE   169

12.3.1    STRICTER EMISSION REGULATIONS TO DRIVE MARKET            169

12.4       FUEL CELL ELECTRIC VEHICLE 170

12.4.1    LONGER DRIVING RANGE THAN OTHER ELECTRIC VEHICLE TYPES TO DRIVE MARKET 170

12.5       PLUG-IN HYBRID ELECTRIC VEHICLE   171

12.5.1    ADVANTAGE OF REDUCED FUEL CONSUMPTION TO DRIVE MARKET              171

12.6       HYBRID ELECTRIC VEHICLE     173

12.7       KEY PRIMARY INSIGHTS             173

13          ELECTRIC VEHICLE MARKET, BY E/E ARCHITECTURE   174

13.1       INTRODUCTION            175

13.2       OPERATIONAL DATA   177

13.3       400V     177

13.3.1    COST-EFFECTIVENESS OF 400V ARCHITECTURE TO DRIVE MARKET              177

13.4       800V     178

13.4.1    RISING DEMAND FOR ENHANCED PERFORMANCE AND FAST CHARGING TO DRIVE MARKET 178

13.5       KEY PRIMARY INSIGHTS             180

14          ELECTRIC VEHICLE MARKET, BY COMPONENT 181

14.1       INTRODUCTION            181

14.2       BATTERY CELLS AND PACKS     181

14.3       ON-BOARD CHARGERS 183

14.4       MOTORS            184

14.5       POWER CONTROL UNITS           188

14.6       BATTERY MANAGEMENT SYSTEMS       191

14.7       FUEL CELL STACKS       192

14.8       FUEL PROCESSORS       192

14.9       POWER CONDITIONERS             193

14.10     AIR COMPRESSORS       193

14.11     HUMIDIFIERS   193

15          ELECTRIC VEHICLE MARKET, BY END USE         194

15.1       INTRODUCTION            194

15.2       OPERATIONAL DATA   194

15.3       PRIVATE            195

15.4       COMMERCIAL FLEETS  196

16          ELECTRIC VEHICLE MARKET, BY REGION          197

16.1       INTRODUCTION            198

16.2       ASIA PACIFIC    204

16.2.1    CHINA  207

16.2.1.1 Presence of key market players to drive market            207

16.2.2    INDIA   209

16.2.2.1 Strong government support and heavy investment by OEMs to drive market              209

16.2.3    JAPAN  211

16.2.3.1 Advanced electric vehicle charging infrastructure to drive market            211

16.2.4    SOUTH KOREA 213

16.2.4.1 Development in battery technology to drive market     213

16.2.5    THAILAND        214

16.2.5.1 Government incentives and 2030 target to drive market            214

16.2.6    INDONESIA       215

16.2.6.1 Developments to create electric vehicle battery hub to drive market         215

16.2.7    MALAYSIA         217

16.2.7.1 National Green Technology Policy to drive market      217

16.2.8    VIETNAM          218

16.2.8.1 Development of comprehensive charging infrastructure system to drive market              218

16.3       EUROPE             219

16.3.1    FRANCE             221

16.3.1.1 OEM electrification plans to drive market      221

16.3.2    GERMANY         223

16.3.2.1 Heavy investment by key OEMs to drive market          223

16.3.3    NETHERLANDS 225

16.3.3.1 Tax exemption on battery electric vehicles to drive market         225

16.3.4    NORWAY           227

16.3.4.1 Commitment to ban new ICE vehicles by 2025 to drive market  227

16.3.5    SWEDEN            229

16.3.5.1 Goal of fossil-free vehicle fleet by 2045 to drive market              229

16.3.6    UK         230

16.3.6.1 Heavy investments in electric vehicle ecosystem to drive market 230

16.3.7    DENMARK         232

16.3.7.1 Long-term strategies for achieving carbon neutrality to drive market       232

16.3.8    AUSTRIA            233

16.3.8.1 Rapid transition to zero-emission vehicles to drive market         233

16.3.9    SWITZERLAND 234

16.3.9.1 Growing focus on development of electric vehicle ecosystem to drive market              234

16.3.10  SPAIN   235

16.3.10.1             Increasing investments in electric vehicle charging infrastructure to drive market   235

16.4       NORTH AMERICA          237

16.4.1    CANADA            239

16.4.1.1 Rising electric vehicle component development to drive market 239

16.4.2    US         240

16.4.2.1 Continuous government support and focus on cleaner mobility to drive market              240

16.5       MIDDLE EAST & AFRICA             242

16.5.1    UAE      244

16.5.1.1 National Electric Vehicles Policy for sustainable transportation to drive market              244

16.5.2    EGYPT 245

16.5.2.1 Rising environmental concerns to drive market            245

16.5.3    SOUTH AFRICA 247

16.5.3.1 Aim to increase adoption of new energy vehicles to drive market             247

17          COMPETITIVE LANDSCAPE       248

17.1       OVERVIEW        248

17.2       KEY PLAYER STRATEGIES/RIGHT TO WIN          248

17.3       MARKET SHARE ANALYSIS FOR ELECTRIC VEHICLE MANUFACTURERS, 2023      250

17.4       REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2019–2023              252

17.5       COMPANY VALUATION AND FINANCIAL METRICS        253

17.5.1    COMPANY VALUATION 253

17.5.2    FINANCIAL METRICS    253

17.6       BRAND/PRODUCT COMPARISON          254

17.7       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   255

17.7.1    STARS  255

17.7.2    EMERGING LEADERS    255

17.7.3    PERVASIVE PLAYERS     255

17.7.4    PARTICIPANTS 255

17.7.5    COMPANY FOOTPRINT: KEY PLAYERS, 2023      257

17.8       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          259

17.8.1    PROGRESSIVE COMPANIES       259

17.8.2    RESPONSIVE COMPANIES          259

17.8.3    DYNAMIC COMPANIES 259

17.8.4    STARTING BLOCKS       259

17.8.5    COMPETITIVE BENCHMARKING            261

17.9       COMPETITIVE SCENARIO          262

17.9.1    PRODUCT LAUNCHES  262

17.9.2    DEALS  264

17.9.3    EXPANSIONS    266

18          COMPANY PROFILES    268

18.1       KEY PLAYERS   268

18.1.1    BYD      268

18.1.1.1 Business overview 268

18.1.1.2 Products/Solutions/Services offered 270

18.1.1.3 Recent developments         271

18.1.1.4 MnM view           279

18.1.1.4.1            Key strengths/Right to win 279

18.1.1.4.2            Strategic choices  279

18.1.1.4.3            Weaknesses & competitive threats   279

18.1.2    TESLA  280

18.1.2.1 Business overview 280

18.1.2.2 Products/Solutions/Services offered 281

18.1.2.3 Recent developments         282

18.1.2.4 MnM view           285

18.1.2.4.1            Key strengths/Right to win 285

18.1.2.4.2            Strategic choices  285

18.1.2.4.3            Weaknesses & competitive threats   285

18.1.3    VOLKSWAGEN 286

18.1.3.1 Business overview 286

18.1.3.2 Products/Solutions/Services offered 288

18.1.3.3 Recent developments         290

18.1.3.4 MnM view           295

18.1.3.4.1            Key strengths/Right to win 295

18.1.3.4.2            Strategic choices  295

18.1.3.4.3            Weaknesses & competitive threats   295

18.1.4    ZHEJIANG GEELY HOLDING GROUP      296

18.1.4.1 Business overview 296

18.1.4.2 Products/Solutions/Services offered 298

18.1.4.3 Recent developments         299

18.1.4.4 MnM view           303

18.1.4.4.1            Key strengths/Right to win 303

18.1.4.4.2            Strategic choices  303

18.1.4.4.3            Weaknesses & competitive threats   303

18.1.5    SAIC MOTOR    304

18.1.5.1 Business overview 304

18.1.5.2 Products/Solutions/Services offered 305

18.1.5.3 Recent developments         306

18.1.5.4 MnM view           308

18.1.5.4.1            Key strengths/Right to Win             308

18.1.5.4.2            Strategic choices  308

18.1.5.4.3            Weaknesses & competitive threats   308

18.1.6    STELLANTIS     309

18.1.6.1 Business overview 309

18.1.6.2 Products/Solutions/Services offered 311

18.1.6.3 Recent developments         312

18.1.6.4 MnM view           320

18.1.6.4.1            Key strengths/ Right to Win            320

18.1.6.4.2            Strategic choices  320

18.1.6.4.3            Weaknesses & competitive threats   320

18.1.7    BMW GROUP    321

18.1.7.1 Business overview 321

18.1.7.2 Products/Solutions/Services offered 323

18.1.7.3 Recent developments         324

18.1.8    NISSAN MOTORS           325

18.1.8.1 Business overview 325

18.1.8.2 Products/Solutions/Services offered 326

18.1.8.3 Recent developments         327

18.1.9    HYUNDAI GROUP          331

18.1.9.1 Business overview 331

18.1.9.2 Products/Solutions/Services offered 333

18.1.9.3 Recent developments         334

18.1.10  GREAT WALL MOTOR   338

18.1.10.1             Business overview 338

18.1.10.2             Products/Solutions/Services offered 340

18.1.10.3             Recent developments         340

18.1.11  TOYOTA MOTOR CORPORATION          344

18.1.11.1             Business overview 344

18.1.11.2             Products/Solutions/Services offered 345

18.1.11.3             Recent developments         346

18.1.12  GAC MOTOR     351

18.1.12.1             Business overview 351

18.1.12.2             Products/Solutions/Services offered 352

18.1.12.3             Recent developments         352

18.2       OTHER KEY PLAYERS    357

18.2.1    GENERAL MOTORS       357

18.2.2    RENAULT          357

18.2.3    FORD MOTOR COMPANY          358

18.2.4    BAIC MOTOR CORPORATION., LTD       358

18.2.5    MITSUBISHI MOTORS   359

18.2.6    CHERY INTERNATIONAL           359

18.2.7    JAC       360

18.2.8    ZOYTE 360

18.2.9    MERCEDES-BENZ GROUP AG    361

18.2.10  LUCID  361

18.3       KEY STARTUPS 362

18.3.1    XPENG 362

18.3.2    NIKOLA CORPORATION             362

18.3.3    NIO       363

18.3.4    FARADAY FUTURE        363

18.3.5    LEAPMOTOR    364

19          RECOMMENDATIONS BY MARKETSANDMARKETS         365

19.1       ASIA PACIFIC TO BE SIGNIFICANT MARKET FOR ELECTRIC VEHICLES              365

19.2       PASSENGER CAR TO EMERGE AS LARGEST SEGMENT OF ELECTRIC VEHICLE MARKET         365

19.3       DC (SUPER CHARGING) TO BE PROMISING SEGMENT OF ELECTRIC VEHICLE MARKET         366

19.4       CONCLUSION   366

20          APPENDIX         367

20.1       KEY INSIGHTS FROM INDUSTRY EXPERTS         367

20.2       DISCUSSION GUIDE      367

20.3       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             370

20.4       CUSTOMIZATION OPTIONS      372

20.4.1    ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE AT COUNTRY-LEVEL (FOR COUNTRIES COVERED IN REPORT)             372

20.4.2    PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 5)         372

20.5       RELATED REPORTS       372

20.6       AUTHOR DETAILS         373

LIST OF TABLES

TABLE 1             ELECTRIC VEHICLE MARKET DEFINITION, BY PROPULSION              27

TABLE 2             ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE TYPE              27

TABLE 3             ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE DRIVE TYPE    28

TABLE 4             ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE CLASS              28

TABLE 5             ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE CONNECTIVITY             29

TABLE 6             ELECTRIC VEHICLE MARKET DEFINITION, BY CHARGING POINT TYPE     29

TABLE 7             ELECTRIC VEHICLE MARKET DEFINITION, BY COMPONENT              30

TABLE 8             ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE TOP SPEED  30

TABLE 9             ELECTRIC VEHICLE MARKET DEFINITION, BY END USE 31

TABLE 10           ELECTRIC VEHICLE MARKET DEFINITION, BY E/E ARCHITECTURE            31

TABLE 11           ELECTRIC VEHICLE MARKET: INCLUSIONS AND EXCLUSIONS              32

TABLE 12           CURRENCY EXCHANGE RATES 34

TABLE 13           INNOVATION IN BATTERIES BY KEY MANUFACTURERS 64

TABLE 14           LIST OF CHARGING STATIONS FOR ELECTRIC CAR, 2024              65

TABLE 15           LIST OF ELECTRIC VEHICLES WITH AVERAGE RANGE   71

TABLE 16           CHARGING POINT OPERATORS             72

TABLE 17           ELECTRIC FLEET COMMITMENTS BY LEADING COMPANIES              74

TABLE 18           ELECTRIC VEHICLE MARKET: IMPACT OF MARKET DYNAMICS              78

TABLE 19           EXISTING AND UPCOMING ELECTRIC VEHICLE MODELS, 2024–2026      79

TABLE 20           ANNUAL ELECTRIC COST VS. ANNUAL GAS COST (2023)              81

TABLE 21           ELECTRIC VEHICLE MARKET: OEM TARGETS AND INVESTMENTS 85

TABLE 22           ELECTRIC VEHICLE MARKET: ROLE OF COMPANIES IN ECOSYSTEM     87

TABLE 23           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR

TOP 2 VEHICLE TYPES (%)         92

TABLE 24           ELECTRIC VEHICLE MARKET: PRICING OF POPULAR ELECTRIC

VEHICLES (US), 2023     94

TABLE 25           AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE, 2021–2023 (USD)   94

TABLE 26           AVERAGE SELLING PRICE TREND, BY REGION, 2022−2030 (USD)   95

TABLE 27           ELECTRIC VEHICLE MARKET: KEY CONFERENCES AND EVENTS, 2024–2025        95

TABLE 28           LIST OF ELECTRIC VEHICLES WITH V2L             98

TABLE 29           RECENT DEVELOPMENTS IN SOLID-STATE BATTERIES 100

TABLE 30           IMPORTANT PATENT REGISTRATIONS RELATED TO ELECTRIC VEHICLE MARKET    104

TABLE 31           TRADE DATA FOR MOTOR VEHICLES IN 2023 IN USD THOUSAND (HS 8703)   108

TABLE 32           NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 111

TABLE 33           EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 112

TABLE 34           ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 113

TABLE 35           NETHERLANDS: ELECTRIC VEHICLE INCENTIVES          114

TABLE 36           NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES     114

TABLE 37           GERMANY: ELECTRIC VEHICLE INCENTIVES     115

TABLE 38           GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES     115

TABLE 39           FRANCE: ELECTRIC VEHICLE INCENTIVES         116

TABLE 40           FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES     116

TABLE 41           UK: ELECTRIC VEHICLE INCENTIVES    117

TABLE 42           UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES              117

TABLE 43           CHINA: ELECTRIC VEHICLE INCENTIVES           118

TABLE 44           CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES              118

TABLE 45           US: ELECTRIC VEHICLE INCENTIVES     118

TABLE 46           US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES              118

TABLE 47           AUSTRIA: ELECTRIC VEHICLE INCENTIVES        119

TABLE 48           ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (THOUSAND UNITS)     123

TABLE 49           ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)     123

TABLE 50           TOP GLOBAL ELECTRIC PASSENGER CAR SALES, BY MODEL, 2023      124

TABLE 51           UPCOMING ELECTRIC PASSENGER CAR MODELS, 2024–2027              125

TABLE 52           UPCOMING ELECTRIC COMMERCIAL VEHICLES, 2024–2026              126

TABLE 53           PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 127

TABLE 54           PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 127

TABLE 55           COMMERCIAL VEHICLE: ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 128

TABLE 56           COMMERCIAL VEHICLE: ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 129

TABLE 57           ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,

2019–2023 (THOUSAND UNITS) 132

TABLE 58           ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,

2024–2030 (THOUSAND UNITS) 132

TABLE 59           FASTEST ELECTRIC CARS          132

TABLE 60           <125 MPH ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 133

TABLE 61           <125 MPH ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 133

TABLE 62           >125 MPH ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 134

TABLE 63           >125 MPH ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 134

TABLE 64           ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE,

2019–2023 (THOUSAND UNITS) 138

TABLE 65           ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE,

2024–2030 (THOUSAND UNITS) 138

TABLE 66           POPULAR ELECTRIC VEHICLES WORLDWIDE, BY DRIVE TYPE              139

TABLE 67           ELECTRIC FRONT-WHEEL DRIVE VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 141

TABLE 68           ELECTRIC FRONT-WHEEL DRIVE VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 141

TABLE 69           ELECTRIC REAR-WHEEL DRIVE VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 142

TABLE 70           ELECTRIC REAR-WHEEL DRIVE VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 142

TABLE 71           ELECTRIC ALL-WHEEL DRIVE VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 143

TABLE 72           ELECTRIC ALL-WHEEL DRIVE VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 144

TABLE 73           ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS, 2019–2023 (THOUSAND UNITS)     146

TABLE 74           ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS, 2024–2030 (THOUSAND UNITS)     147

TABLE 75           POPULAR ELECTRIC VEHICLES WORLDWIDE, BY VEHICLE CLASS  147

TABLE 76           LOW-PRICED ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 149

TABLE 77           LOW-PRICED ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 149

TABLE 78           MID-PRICED ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 150

TABLE 79           MID-PRICED ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 150

TABLE 80           LUXURY ELECTRIC VEHICLE MARKET, BY REGION, 2019–2023 (THOUSAND UNITS)     151

TABLE 81           LUXURY ELECTRIC VEHICLE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)     151

TABLE 82           ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE,

2019–2023 (THOUSAND UNITS) 159

TABLE 83           ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE,

2024–2030 (THOUSAND UNITS) 159

TABLE 84           LEADING GLOBAL ELECTRIC VEHICLE CHARGING PROVIDERS              159

TABLE 85           ELECTRIC VEHICLE MARKET FOR AC (NORMAL CHARGING),

BY REGION, 2019–2023 (THOUSAND UNITS)       160

TABLE 86           ELECTRIC VEHICLE MARKET FOR AC (NORMAL CHARGING),

BY REGION, 2024–2030 (THOUSAND UNITS)       161

TABLE 87           ELECTRIC VEHICLE MARKET FOR DC (SUPER CHARGING),

BY REGION, 2019–2023 (THOUSAND UNITS)       162

TABLE 88           ELECTRIC VEHICLE MARKET FOR DC (SUPER CHARGING),

BY REGION, 2024–2030 (THOUSAND UNITS)       162

TABLE 89           ELECTRIC VEHICLE MARKET, BY PROPULSION, 2019–2023 (THOUSAND UNITS)     167

TABLE 90           ELECTRIC VEHICLE MARKET, BY PROPULSION, 2024–2030 (THOUSAND UNITS)     167

TABLE 91           BESTSELLING ELECTRIC VEHICLES IN 2023        168

TABLE 92           EXPECTED BEST-SELLING ELECTRIC VEHICLES IN 2024 169

TABLE 93           BATTERY ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 170

TABLE 94           BATTERY ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 170

TABLE 95           FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 171

TABLE 96           FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION,

2024–2030 (THOUSAND UNITS) 171

TABLE 97           PLUG-IN HYBRID ELECTRIC VEHICLE MARKET, BY REGION,

2019–2023 (THOUSAND UNITS) 172

TABLE 98           PLUG-IN HYBRID ELECTRIC VEHICLE MARKET,

BY REGION, 2024–2030 (THOUSAND UNITS)       172

TABLE 99           KEY DIFFERENCES BETWEEN ELECTRIC VEHICLES AND

HYBRID ELECTRIC VEHICLES   173

TABLE 100         DIFFERENCE BETWEEN 400V AND 800V E/E ARCHITECTURES              175

TABLE 101         ELECTRIC VEHICLE MARKET, BY E/E ARCHITECTURE,

2019–2023 (THOUSAND UNITS) 176

TABLE 102         ELECTRIC VEHICLE MARKET, BY E/E ARCHITECTURE,

2024–2030 (THOUSAND UNITS) 176

TABLE 103         VEHICLE MODELS, BY E/E ARCHITECTURE 400V–800V  177

TABLE 104         400V E/E ARCHITECTURE MARKET, BY REGION, 2019–2023 (THOUSAND UNITS)     177

TABLE 105         400V E/E ARCHITECTURE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)     178

TABLE 106         VEHICLE MODELS, BY E/E ARCHITECTURE FOR 800V, 2024              178

TABLE 107         800V E/E ARCHITECTURE MARKET, BY REGION, 2019–2023 (THOUSAND UNITS)     179

TABLE 108         800V E/E ARCHITECTURE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)     180

TABLE 109         BATTERY CELL AND PACK SUPPLIER DATA       182

TABLE 110         ON-BOARD CHARGER SUPPLIER DATA 183

TABLE 111         MOTOR SUPPLIER DATA           184

TABLE 112         DC-DC CONVERTER SUPPLIER DATA    188

TABLE 113         INVERTER SUPPLIER DATA       190

TABLE 114         BATTERY MANAGEMENT SYSTEM SUPPLIER DATA       191

TABLE 115         ELECTRIC VEHICLE FLEET TARGETS WORLDWIDE        194

TABLE 116         ELECTRIC VEHICLES IN USE FOR COMMERCIAL FLEETS              195

TABLE 117         KEY COMPANIES, BY COMMERCIAL FLEET SEGMENT   196

TABLE 118         ELECTRIC VEHICLE MARKET, BY REGION, 2019–2023 (USD MILLION)          202

TABLE 119         ELECTRIC VEHICLE MARKET, BY REGION, 2024–2030 (USD MILLION)          202

TABLE 120         ELECTRIC VEHICLE MARKET, BY REGION, 2019–2023 (THOUSAND UNITS)     203

TABLE 121         ELECTRIC VEHICLE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)     203

TABLE 122         ELECTRIC PASSENGER CAR MARKET, BY REGION, 2019–2023 (THOUSAND UNITS)     203

TABLE 123         ELECTRIC PASSENGER CAR MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)     204

TABLE 124         ASIA PACIFIC: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2019–2023 (THOUSAND UNITS)   206

TABLE 125         ASIA PACIFIC: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2024–2030 (THOUSAND UNITS)   206

TABLE 126         BESTSELLING ELECTRIC VEHICLES IN CHINA, 2023        207

TABLE 127         CHINA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            208

TABLE 128         CHINA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            209

TABLE 129         BESTSELLING ELECTRIC VEHICLES IN INDIA, 2023         210

TABLE 130         INDIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            210

TABLE 131         INDIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            211

TABLE 132         JAPAN: VEHICLE GOAL FOR 2030            211

TABLE 133         JAPAN: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            212

TABLE 134         JAPAN: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            212

TABLE 135         SOUTH KOREA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            213

TABLE 136         SOUTH KOREA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            213

TABLE 137         THAILAND: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            215

TABLE 138         THAILAND: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            215

TABLE 139         INDONESIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            216

TABLE 140         INDONESIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            216

TABLE 141         MALAYSIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            217

TABLE 142         MALAYSIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            217

TABLE 143         VIETNAM: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            218

TABLE 144         VIETNAM: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            218

TABLE 145         EUROPE: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2019–2023 (THOUSAND UNITS)   220

TABLE 146         EUROPE: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2024–2030 (THOUSAND UNITS)   221

TABLE 147         BESTSELLING ELECTRIC VEHICLE MODELS IN FRANCE, 2023              222

TABLE 148         FRANCE: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            222

TABLE 149         FRANCE: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            222

TABLE 150         GERMANY: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            224

TABLE 151         GERMANY: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            224

TABLE 152         NETHERLANDS: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            226

TABLE 153         NETHERLANDS: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            226

TABLE 154         BESTSELLING ELECTRIC VEHICLES IN NORWAY, 2023   227

TABLE 155         NORWAY: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            228

TABLE 156         NORWAY: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            228

TABLE 157         SWEDEN: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            229

TABLE 158         SWEDEN: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            229

TABLE 159         BESTSELLING ELECTRIC VEHICLES IN UK, 2023 231

TABLE 160         UK: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            231

TABLE 161         UK: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            231

TABLE 162         DENMARK: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            232

TABLE 163         DENMARK: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            233

TABLE 164         AUSTRIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            233

TABLE 165         AUSTRIA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            234

TABLE 166         BESTSELLING ELECTRIC VEHICLES IN SWITZERLAND, 2023              234

TABLE 167         SWITZERLAND: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            235

TABLE 168         SWITZERLAND: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            235

TABLE 169         SPAIN: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            236

TABLE 170         SPAIN: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            236

TABLE 171         NORTH AMERICA: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2019–2023 (THOUSAND UNITS)   238

TABLE 172         NORTH AMERICA: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2024–2030 (THOUSAND UNITS)   239

TABLE 173         CANADA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            239

TABLE 174         CANADA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            240

TABLE 175         BESTSELLING ELECTRIC VEHICLES IN US, 2023 241

TABLE 176         US: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            241

TABLE 177         US: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            241

TABLE 178         MIDDLE EAST & AFRICA: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2019–2023 (THOUSAND UNITS)   243

TABLE 179         MIDDLE EAST & AFRICA: ELECTRIC PASSENGER CAR MARKET,

BY COUNTRY, 2024–2030 (THOUSAND UNITS)   243

TABLE 180         UAE: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            244

TABLE 181         UAE: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            245

TABLE 182         EGYPT: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            246

TABLE 183         EGYPT: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            246

TABLE 184         SOUTH AFRICA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2019–2023 (THOUSAND UNITS)            247

TABLE 185         SOUTH AFRICA: ELECTRIC PASSENGER CAR MARKET,

BY PROPULSION, 2024–2030 (THOUSAND UNITS)            247

TABLE 186         OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN ELECTRIC VEHICLE MARKET    248

TABLE 187         DEGREE OF COMPETITION       250

TABLE 188         ELECTRIC PASSENGER VEHICLE MODELS, BY KEY FEATURES              254

TABLE 189         ELECTRIC BUS VEHICLE MODELS, BY KEY FEATURES    254

TABLE 190         ELECTRIC TRUCK VEHICLE MODELS, BY KEY FEATURES              254

TABLE 191         ELECTRIC VEHICLE MARKET: COMPANY VEHICLE TYPE FOOTPRINT, 2023          258

TABLE 192         ELECTRIC VEHICLE MARKET: COMPANY REGION FOOTPRINT, 2023      258

TABLE 193         ELECTRIC VEHICLE MARKET: LIST OF KEY STARTUPS  261

TABLE 194         ELECTRIC VEHICLE MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS         261

TABLE 195         ELECTRIC VEHICLE MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS,

APRIL 2021–JUNE 2024   262

TABLE 196         ELECTRIC VEHICLE MARKET: DEALS, MARCH 2021–JUNE 2024              264

TABLE 197         ELECTRIC VEHICLE MARKET: EXPANSIONS, APRIL 2021–APRIL 2024      266

TABLE 198         BYD: COMPANY OVERVIEW       268

TABLE 199         BYD: PRODUCTS/SOLUTIONS/SERVICES OFFERED        270

TABLE 200         BYD: PRODUCT LAUNCHES AND DEVELOPMENTS        271

TABLE 201         BYD: DEALS      273

TABLE 202         BYD: EXPANSIONS         277

TABLE 203         TESLA: COMPANY OVERVIEW   280

TABLE 204         TESLA: PRODUCTS/SOLUTIONS/SERVICES OFFERED    281

TABLE 205         TESLA: PRODUCT LAUNCHES AND DEVELOPMENTS    282

TABLE 206         TESLA: DEALS  282

TABLE 207         TESLA: EXPANSIONS     283

TABLE 208         TESLA: OTHERS             284

TABLE 209         VOLKSWAGEN: COMPANY OVERVIEW  286

TABLE 210         VOLKSWAGEN: PRODUCTS/SOLUTIONS/SERVICES OFFERED              288

TABLE 211         VOLKSWAGEN: PRODUCT LAUNCHES AND DEVELOPMENTS              290

TABLE 212         VOLKSWAGEN: DEALS  292

TABLE 213         VOLKSWAGEN: EXPANSIONS    293

TABLE 214         ZHEJIANG GEELY HOLDING GROUP: COMPANY OVERVIEW              296

TABLE 215         ZHEJIANG GEELY HOLDING GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED   298

TABLE 216         ZHEJIANG GEELY HOLDING GROUP: PRODUCT LAUNCHES AND DEVELOPMENTS  299

TABLE 217         ZHEJIANG GEELY HOLDING GROUP: DEALS      300

TABLE 218         ZHEJIANG GEELY HOLDING GROUP: EXPANSIONS        302

TABLE 219         ZHEJIANG GEELY HOLDING GROUP: OTHERS   302

TABLE 220         SAIC MOTOR: COMPANY OVERVIEW     304

TABLE 221         SAIC MOTOR: PRODUCTS/SOLUTIONS/SERVICES OFFERED              305

TABLE 222         SAIC MOTOR: PRODUCT LAUNCHES & DEVELOPMENTS              306

TABLE 223         SAIC MOTOR: DEALS    307

TABLE 224         SAIC MOTOR: EXPANSIONS       307

TABLE 225         SAIC MOTOR: OTHERS 308

TABLE 226         STELLANTIS: COMPANY OVERVIEW      309

TABLE 227         STELLANTIS: PRODUCTS/SOLUTIONS/SERVICES OFFERED              311

TABLE 228         STELLANTIS: PRODUCT LAUNCHES AND DEVELOPMENTS              312

TABLE 229         STELLANTIS: DEALS     314

TABLE 230         STELLANTIS: EXPANSIONS        318

TABLE 231         BMW GROUP: COMPANY OVERVIEW     321

TABLE 232         BMW GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED              323

TABLE 233         BMW GROUP: PRODUCT LAUNCHES AND DEVELOPMENTS              324

TABLE 234         NISSAN MOTORS: COMPANY OVERVIEW            325

TABLE 235         NISSAN MOTORS: PRODUCTS/SOLUTIONS/SERVICES OFFERED          326

TABLE 236         NISSAN MOTORS: PRODUCT LAUNCHES AND DEVELOPMENTS           327

TABLE 237         NISSAN MOTORS: DEALS           328

TABLE 238         NISSAN MOTORS: EXPANSIONS 330

TABLE 239         HYUNDAI GROUP: COMPANY OVERVIEW          331

TABLE 240         HYUNDAI GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED          333

TABLE 241         HYUNDAI GROUP: PRODUCT LAUNCHES AND DEVELOPMENTS           334

TABLE 242         HYUNDAI GROUP: DEALS          335

TABLE 243         HYUNDAI GROUP: EXPANSIONS             337

TABLE 244         GREAT WALL MOTOR: COMPANY OVERVIEW   338

TABLE 245         GREAT WALL MOTOR: PRODUCTS/SOLUTIONS/SERVICES OFFERED          340

TABLE 246         GREAT WALL MOTOR: PRODUCT LAUNCHES AND DEVELOPMENTS           340

TABLE 247         GREAT WALL MOTOR: DEALS   341

TABLE 248         GREAT WALL MOTOR: EXPANSIONS     343

TABLE 249         TOYOTA MOTOR CORPORATION: COMPANY OVERVIEW              344

TABLE 250         TOYOTA MOTOR CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED   345

TABLE 251         TOYOTA MOTOR CORPORATION: PRODUCT LAUNCHES AND DEVELOPMENTS           346

TABLE 252         TOYOTA MOTOR CORPORATION: DEALS          347

TABLE 253         TOYOTA MOTOR CORPORATION: EXPANSIONS             350

TABLE 254         GAC MOTOR: COMPANY OVERVIEW     351

TABLE 255         GAC MOTOR: PRODUCTS/SOLUTIONS/SERVICES OFFERED              352

TABLE 256         GAC MOTOR: PRODUCT LAUNCHES AND DEVELOPMENTS              352

TABLE 257         GAC MOTOR: DEALS     354

TABLE 258         GAC MOTOR: EXPANSIONS       356

TABLE 259         GENERAL MOTORS: COMPANY OVERVIEW        357

TABLE 260         RENAULT: COMPANY OVERVIEW           357

TABLE 261         FORD MOTOR COMPANY: COMPANY OVERVIEW           358

TABLE 262         BAIC MOTOR CORPORATION., LTD: COMPANY OVERVIEW              358

TABLE 263         MITSUBISHI MOTORS: COMPANY OVERVIEW   359

TABLE 264         CHERY INTERNATIONAL: COMPANY OVERVIEW            359

TABLE 265         JAC: COMPANY OVERVIEW        360

TABLE 266         ZOYTE: COMPANY OVERVIEW  360

TABLE 267         MERCEDES-BENZ GROUP AG: COMPANY OVERVIEW     361

TABLE 268         LUCID: COMPANY OVERVIEW  361

TABLE 269         XPENG: COMPANY OVERVIEW  362

TABLE 270         NIKOLA CORPORATION: COMPANY OVERVIEW             362

TABLE 271         NIO: COMPANY OVERVIEW       363

TABLE 272         FARADAY FUTURE: COMPANY OVERVIEW         363

TABLE 273         LEAPMOTOR: COMPANY OVERVIEW     364

LIST OF FIGURES

FIGURE 1           ELECTRIC VEHICLE MARKET SEGMENTATION 33

FIGURE 2           ELECTRIC VEHICLE MARKET: RESEARCH DESIGN          36

FIGURE 3           ELECTRIC VEHICLE MARKET: RESEARCH DESIGN MODEL              37

FIGURE 4           ELECTRIC VEHICLE MARKET: BREAKDOWN OF PRIMARY INTERVIEWS     40

FIGURE 5           ELECTRIC VEHICLE MARKET: BOTTOM-UP APPROACH 42

FIGURE 6           ELECTRIC VEHICLE MARKET: TOP-DOWN APPROACH 42

FIGURE 7           ELECTRIC VEHICLE MARKET: RESEARCH APPROACH    43

FIGURE 8           ELECTRIC VEHICLE MARKET ESTIMATION NOTES        43

FIGURE 9           ELECTRIC VEHICLE MARKET: DATA TRIANGULATION 44

FIGURE 10         FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES  46

FIGURE 11         ELECTRIC VEHICLE MARKET OVERVIEW            51

FIGURE 12         ELECTRIC VEHICLE MARKET, BY REGION, 2024–2030 (USD MILLION)          52

FIGURE 13         ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,

2024 VS. 2030 (THOUSAND UNITS)          53

FIGURE 14         KEY PLAYERS IN ELECTRIC VEHICLE MARKET  53

FIGURE 15         GOVERNMENT INITIATIVES FOR PROMOTING LOW-EMISSION TRANSPORT

TO DRIVE MARKET       54

FIGURE 16         AC (NORMAL CHARGING) TO BE DOMINANT SEGMENT DURING FORECAST PERIOD     55

FIGURE 17         COMMERCIAL VEHICLE SEGMENT TO GROW AT HIGHER CAGR THAN PASSENGER CAR SEGMENT DURING FORECAST PERIOD   55

FIGURE 18         MID-PRICED SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       56

FIGURE 19         BATTERY ELECTRIC VEHICLE TO BE LARGEST SEGMENT DURING

FORECAST PERIOD       56

FIGURE 20         >125 MPH SEGMENT TO GROW AT FASTER RATE THAN <125 MPH DURING FORECAST PERIOD          57

FIGURE 21         ALL-WHEEL DRIVE SEGMENT TO REGISTER HIGHEST CAGR DURING

FORECAST PERIOD       57

FIGURE 22         800V SEGMENT TO REGISTER HIGHER CAGR THAN 400V SEGMENT

DURING FORECAST PERIOD     58

FIGURE 23         ASIA PACIFIC TO ACCOUNT FOR DOMINANT MARKET SHARE IN 2024 58

FIGURE 24         ELECTRIC VEHICLE MARKET: TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS        60

FIGURE 25         ELECTRIC VEHICLE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,

AND CHALLENGES        61

FIGURE 26         ELECTRIFICATION TARGETS BY COUNTRIES    62

FIGURE 27         EXPECTED NUMBER OF PUBLIC ELECTRIC VEHICLE CHARGING STATIONS

IN INDIA BY 2030            66

FIGURE 28         LIFECYCLE GREENHOUSE GAS EMISSIONS, 2021 VS. 2030              67

FIGURE 29         EMISSIONS OF ELECTRIC VEHICLES AND GASOLINE VEHICLES              68

FIGURE 30         PURCHASE COST FOR ELECTRIC AND ICE VEHICLES, BY KEY MODELS            69

FIGURE 31         FUEL STATION AVERAGE PRICE COMPARISON 70

FIGURE 32         OPERATION OF WIRELESS CHARGING TECHNOLOGY   73

FIGURE 33         ELECTRIC VEHICLE CHARGING TIME   75

FIGURE 34         ELECTRIC VEHICLE CHARGERS USED WORLDWIDE      76

FIGURE 35         ELECTRIC VEHICLE CHARGERS USED IN INDIA 77

FIGURE 36         US: TOTAL COST OF OWNERSHIP BREAKDOWN             81

FIGURE 37         BILL OF MATERIALS OF ICE AND ELECTRIC VEHICLES, 2023 VS. 2030      82

FIGURE 38         INVESTMENT AND FUNDING SCENARIO, 2020–2024       83

FIGURE 39         TOP-SELLING ELECTRIC VEHICLES WORLDWIDE, 2023 84

FIGURE 40         ELECTRIC VEHICLE MARKET: ECOSYSTEM ANALYSIS    86

FIGURE 41         ELECTRIC VEHICLE MARKET: SUPPLY CHAIN ANALYSIS              90

FIGURE 42         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 2 VEHICLE TYPES  92

FIGURE 43         KEY BUYING CRITERIA FOR PASSENGER CARS  93

FIGURE 44         KEY BUYING CRITERIA FOR COMMERCIAL VEHICLES   93

FIGURE 45         PARTS OF V2X  96

FIGURE 46         HOW V2G CHARGING WORKS   97

FIGURE 47         ELECTRIC VEHICLES WITH V2L 98

FIGURE 48         SOLID-STATE BATTERY ROADMAP, 2035+         99

FIGURE 49         DIRECT BOROHYDRIDE FUEL CELL WORKING 100

FIGURE 50         BATTERY MANAGEMENT AND MONITORING SYSTEM  101

FIGURE 51         BATTERY MANAGEMENT AND MONITORING SYSTEM OF ELECTRIC VEHICLE ARCHITECTURE     102

FIGURE 52         NUMBER OF PATENTS GRANTED IN ELECTRIC VEHICLE MARKET, 2013–2024       103

FIGURE 53         ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)     123

FIGURE 54         ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,

2024 VS. 2030 (THOUSAND UNITS)          131

FIGURE 55         COMPARISON OF ELECTRIC VEHICLE DRIVE TYPES      137

FIGURE 56         ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE,

2024 VS. 2030 (THOUSAND UNITS)          138

FIGURE 57         ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS, 2024–2030 (THOUSAND UNITS)     146

FIGURE 58         SIGNIFICANCE OF V2X IN ELECTRIC VEHICLE MARKET 153

FIGURE 59         V2X COMMUNICATION 154

FIGURE 60         ELECTRIC VEHICLE MARKET: FACTORS IMPACTING V2X              154

FIGURE 61         ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE,

2024–2030 (THOUSAND UNITS) 158

FIGURE 62         INDUCTIVE ELECTRIC VEHICLE CHARGING      163

FIGURE 63         ELECTRIC VEHICLE COMPARISON BY PROPULSION      166

FIGURE 64         ELECTRIC VEHICLE MARKET, BY PROPULSION, 2024–2030 (THOUSAND UNITS)     167

FIGURE 65         ELECTRIC VEHICLE MARKET, BY E/E ARCHITECTURE,

2024 VS. 2030 (THOUSAND UNITS)          176

FIGURE 66         ELECTRIC VEHICLE PLANS AND INVESTMENTS BY KEY OEMS              199

FIGURE 67         KEY TRANSPORT POLICIES AND TARGETS BY COUNTRIES              200

FIGURE 68         PARTNERSHIP OF ELECTRIC VEHICLE OEMS WITH BATTERY MANUFACTURERS        201

FIGURE 69         ASIA PACIFIC TO BE LARGEST MARKET DURING FORECAST PERIOD              202

FIGURE 70         ASIA PACIFIC: ELECTRIC VEHICLE MARKET SNAPSHOT 205

FIGURE 71         ELECTRIC VEHICLE MOBILITY LANDSCAPE IN CHINA   208

FIGURE 72         INDIA: MARKET SHARE OF TOP 5 ELECTRIC VEHICLE BRANDS, 2023      209

FIGURE 73         ELECTRIC VEHICLES SOLD IN THAILAND, 2020–2024     214

FIGURE 74         BESTSELLING BATTERY ELECTRIC VEHICLE MODELS IN EUROPE, 2023   219

FIGURE 75         GERMANY TO LEAD ELECTRIC VEHICLE MARKET IN EUROPE DURING

FORECAST PERIOD       220

FIGURE 76         GERMANY: ELECTRIC VEHICLE ROADMAP        223

FIGURE 77         BESTSELLING ELECTRIC VEHICLES IN GERMANY, 2023 224

FIGURE 78         BESTSELLING ELECTRIC VEHICLES IN NETHERLANDS, 2023              226

FIGURE 79         UK: ELECTRIC VEHICLE ROADMAP       230

FIGURE 80         NORTH AMERICA: ELECTRIC VEHICLE MARKET SNAPSHOT              238

FIGURE 81         MIDDLE EAST & AFRICA: ELECTRIC VEHICLE MARKET,

BY COUNTRY, 2024 VS. 2030 (THOUSAND UNITS)            243

FIGURE 82         ELECTRIC VEHICLE MARKET SHARE ANALYSIS, 2023     250

FIGURE 83         REVENUE ANALYSIS OF KEY PLAYERS IN ELECTRIC VEHICLE MARKET, 2019–2023       252

FIGURE 84         COMPANY VALUATION, JUNE 2024 (USD BILLION)        253

FIGURE 85         EV/EBITDA OF KEY PLAYERS, JUNE 2024             253

FIGURE 86         ELECTRIC VEHICLE MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023    256

FIGURE 87         ELECTRIC VEHICLE MARKET: COMPANY FOOTPRINT, 2023              257

FIGURE 88         ELECTRIC VEHICLE MARKET: COMPANY EVALUATION MATRIX

(STARTUPS/SMES), 2023             260

FIGURE 89         BYD: COMPANY SNAPSHOT      269

FIGURE 90         TESLA: COMPANY SNAPSHOT  281

FIGURE 91         VOLKSWAGEN: COMPANY SNAPSHOT  287

FIGURE 92         VOLKSWAGEN: REPORTING STRUCTURE           287

FIGURE 93         VOLKSWAGEN: 2024, Q1 DELIVERIES GROWTH RATE, BY REGION             288

FIGURE 94         ZHEJIANG GEELY HOLDING GROUP: COMPANY SNAPSHOT              297

FIGURE 95         ZHEJIANG GEELY HOLDING GROUP: BRANDS   297

FIGURE 96         ZHEJIANG GEELY HOLDING GROUP: PRODUCT LINE-UP OF VOLVO 298

FIGURE 97         SAIC MOTOR: COMPANY SNAPSHOT    305

FIGURE 98         STELLANTIS: COMPANY SNAPSHOT      310

FIGURE 99         STELLANTIS: ELECTRIFICATION PLANS             311

FIGURE 100       BMW GROUP: COMPANY SNAPSHOT    322

FIGURE 101       BMW GROUP: ELECTRIC VEHICLE PLANS          322

FIGURE 102       NISSAN MOTORS: COMPANY SNAPSHOT           326

FIGURE 103       HYUNDAI GROUP: COMPANY SNAPSHOT          332

FIGURE 104       HYUNDAI GROUP: FUEL CELL ELECTRIC VEHICLE STRATEGY              333

FIGURE 105       GREAT WALL MOTOR: COMPANY SNAPSHOT   339

FIGURE 106       GREAT WALL MOTOR: GLOBAL R&D NETWORK             339

FIGURE 107       TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT              344

FIGURE 108       TOYOTA MOTOR CORPORATION: INVESTMENT IN BATTERY ELECTRIC VEHICLES     345

FIGURE 109       GAC MOTOR: COMPANY SNAPSHOT     351