Strategic Intelligence: Electric Vehicles
Description
Strategic Intelligence: Electric Vehicles
Summary
The electric vehicle (EV) industry is undergoing significant transformations as shifts in supply chains reshape power dynamics globally.Electric vehicle adoption is already widespread in major economies, such as China and the US. However, range anxiety continues to hinder broader EV adoption. While electric car sales surged by 39% year-on-year from Q1 2024 to Q1 2025, many potential buyers remain hesitant due to concerns about charging availability and convenience. GlobalData forecasts in 2024, global battery electric vehicle (BEV) sales rose by 13%, reaching 10.4 million units and accounting for 14% of new personal vehicle sales.
Shifts in EV supply chains are reshaping power dynamics
In 2024, global battery electric vehicle (BEV) sales rose 13% to reach 10.4 million, accounting for 14% of new personal vehicle (PV) sales. BEVs accounted for 9% of sales in the US, 15% in the EU, and 27% in China. The US is aiming to bring battery and vehicle manufacturing back onshore. In response, Europe is implementing state aid to counter American incentives while simultaneously working to decrease its dependence on Chinese components. Meanwhile, China is aggressively expanding its global presence through strategic partnerships and competitive pricing. This realignment is fostering new power centers in the global EV race, prompting companies to adapt or risk obsolescence.
Range anxiety continues to impact EV adoption
Global BEV sales continue to rise, with electric car sales up 39% year-on-year (YoY) from Q1 2024 to Q1 2025. However, many potential buyers still hesitate due to concerns about charging availability and convenience. This reluctance is worsened by the fragmented nature of charging networks, especially in rural and economically disadvantaged areas. Permitting delays, inconsistent standards, and a lack of interoperability among networks further impede progress. As governments set ambitious phaseout targets for internal combustion engines (ICE) by 2030 and 2035, addressing consumers’ concerns that they will run out of battery charge before reaching their destination will be crucial for keeping the transition on track.
Tariffs and trade wars are transforming the EV landscape
Rising trade tensions among the US, EU, and China are swiftly reshaping the EV market. In response to the influx of low-cost Chinese EV exports, the EU has enacted provisional tariffs of up to 38%, while the US has increased import duties on Chinese EVs to 100%. These actions aim to protect domestic manufacturers but could provoke retaliatory measures and disrupt global supply chains. Automakers are already reevaluating their global strategies, with some establishing localized production hubs and others reconsidering their market entry plans. The EV market is evolving into a battleground not just for technology but also for geopolitical influence
Scope
This report offers a comprehensive analysis of the electric vehicle industry including -
Summary
The electric vehicle (EV) industry is undergoing significant transformations as shifts in supply chains reshape power dynamics globally.Electric vehicle adoption is already widespread in major economies, such as China and the US. However, range anxiety continues to hinder broader EV adoption. While electric car sales surged by 39% year-on-year from Q1 2024 to Q1 2025, many potential buyers remain hesitant due to concerns about charging availability and convenience. GlobalData forecasts in 2024, global battery electric vehicle (BEV) sales rose by 13%, reaching 10.4 million units and accounting for 14% of new personal vehicle sales.
Shifts in EV supply chains are reshaping power dynamics
In 2024, global battery electric vehicle (BEV) sales rose 13% to reach 10.4 million, accounting for 14% of new personal vehicle (PV) sales. BEVs accounted for 9% of sales in the US, 15% in the EU, and 27% in China. The US is aiming to bring battery and vehicle manufacturing back onshore. In response, Europe is implementing state aid to counter American incentives while simultaneously working to decrease its dependence on Chinese components. Meanwhile, China is aggressively expanding its global presence through strategic partnerships and competitive pricing. This realignment is fostering new power centers in the global EV race, prompting companies to adapt or risk obsolescence.
Range anxiety continues to impact EV adoption
Global BEV sales continue to rise, with electric car sales up 39% year-on-year (YoY) from Q1 2024 to Q1 2025. However, many potential buyers still hesitate due to concerns about charging availability and convenience. This reluctance is worsened by the fragmented nature of charging networks, especially in rural and economically disadvantaged areas. Permitting delays, inconsistent standards, and a lack of interoperability among networks further impede progress. As governments set ambitious phaseout targets for internal combustion engines (ICE) by 2030 and 2035, addressing consumers’ concerns that they will run out of battery charge before reaching their destination will be crucial for keeping the transition on track.
Tariffs and trade wars are transforming the EV landscape
Rising trade tensions among the US, EU, and China are swiftly reshaping the EV market. In response to the influx of low-cost Chinese EV exports, the EU has enacted provisional tariffs of up to 38%, while the US has increased import duties on Chinese EVs to 100%. These actions aim to protect domestic manufacturers but could provoke retaliatory measures and disrupt global supply chains. Automakers are already reevaluating their global strategies, with some establishing localized production hubs and others reconsidering their market entry plans. The EV market is evolving into a battleground not just for technology but also for geopolitical influence
Scope
This report offers a comprehensive analysis of the electric vehicle industry including -
- A technology briefing
- Electric bvehicle technology, macroecnomic, and regulatory trends
- Leading companies in the electric vehicles theme
- A break down of the components in the electric vehicle value chain
- Industry analysis
- A thematic scorecard ranking majorvehicle manufacturing companies in the electric vehicle theme
- As the electric vehicle (EV) industry undergoes significant transformation, several compelling reasons emerge for stakeholders to invest in this dynamic sector. This report is essential reading for senior executives as it outlines key trends and strategies that can help businesses navigate the evolving landscape of electric vehicles and capitalize on emerging opportunities.
Table of Contents
71 Pages
- Executive Summary
- Players
- Technology Briefing
- Lithium-ion continues to dominate battery technology for BEVs
- Alternatives to lithium
- Solid-state
- Fuel cells
- Charging solutions
- Trends
- Technology trends
- Macroeconomic trends
- Regulatory trends
- Industry Analysis
- Market size and growth forecasts
- Global EV output surges amid rising demand
- Tesla remains a key BEV producer despite growth from legacy OEMs
- The dynamics of raw materials
- Competitive analysis
- BMW
- BYD
- Ford
- Geely
- General Motors
- Great Wall
- Hyundai
- Mercedes-Benz
- Stellantis
- Tesla
- Toyota
- Regional analysis
- Europe
- North America
- South America
- Asia Pacific
- Timeline
- Value Chain
- Batteries
- Battery raw materials
- Battery components
- Battery cells
- Semiconductors
- Auto components
- Electric drivetrains
- Tier-1 auto component suppliers
- Assembly
- Charging
- Companies
- Sector Scorecards
- Vehicle manufacturing sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Technology trends
- Table 2: Macroeconomic trends
- Table 3: Regulatory trends
- Table 4: Companies
- Table 5: Glossary
- Table 6: GlobalData reports
- List of Figures
- Figure 1: Who are the leading players in the electric vehicle theme, and where do they sit in the value chain?
- Figure 2: The different types of xEVs on the market
- Figure 3: Top electric vehicles trends
- Figure 4: EV powertrains as a proportion of all new powertrains 2020–2032
- Figure 5: EV sales share by largest OEMs 2024 vs 2030
- Figure 6: Lithium production by country 2015–2030
- Figure 7: BYD vs largest OEMs xEV sales, 2024
- Figure 8: Regional BEV sales, 2024
- Figure 9: The electric vehicles story
- Figure 10: The electric vehicle value chain
- Figure 11: The electric vehicle value chain – batteries - Battery raw materials
- Figure 12: The electric vehicle value chain – batteries - Battery components
- Figure 13: The electric vehicle value chain – batteries - Battery cells
- Figure 14: The electric vehicle value chain – semiconductors
- Figure 15: The electric vehicle value chain – auto components - Electric drivetrains: leaders and disruptors
- Figure 16: The electric vehicle value chain – Tier-1 auto components: leaders and disruptors
- Figure 17: The electric vehicle value chain – EV assembly: leaders and disruptors
- Figure 18: The electric vehicle value chain – EV charging stations: leaders and disruptors
- Figure 19: The electric vehicle value chain – EV charging equipment: leaders and disruptors
- Figure 20: Who does what in the vehicle manufacturing space?
- Figure 21: Thematic screen
- Figure 22: Valuation screen
- Figure 23: Risk screen
- Figure 24: Our five-step approach for generating a sector scorecard
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