US Electric Vehicle Market top Key Players- Tesla, GM, Hyundai, Kia, Ford, Rivian, Stellanis, Toyota, Honda

The USA’s electric vehicle market was estimated at $xx Billion in 2020. With more than 20 EVs (BEV PHEV) in pipeline, the market volume could grow up to XX Million or xx% of new car sales by 2025. USA is one of the most prominent automobile markets in the world with 14-16 million units yearly. The market is mainly based on trucks with Ford F-150 holding the most sold vehicle tag. SUVs and crossovers are other segments popular among vehicle owners in this region.

USA is also home to prominent global OEMs such as the Detroit 3 – Ford,GM and Stellanis groups. Nissan, Toyota, and Honda are some of the foreign OEMs who have established manufacturing facilities in USA to develop and manufacture vehicles for the American customers

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US ELECTRIC VEHICLE MARKET DYNAMICS
There is a $7,500 credit for EV owners in the USA currently and there is a push for raising it to $12,500. President Joe Biden has proposed $174 billion for electric vehicles and charging stations, including $100 billion for consumer rebates.

Multiple states have an extra tax benefit on top of the federal tax benefit for EVs. California is the largest market for EV sales mainly due to the incentives offered as well as the higher purchasing power in the state. In California, on top of $7,500 there is a $2,000 tax credit which decreases the overall price by $10,000 for the consumer.

ELECTRIC VEHICLE CHARGING INFRASTRUCTURE IN US
There are about 5,192 DC Fast chargers present across USA with 18,643 connectors

• Tesla runs 10,555 of the connectors (56% of the overall connectors) out of its 1,068 stations
• Electrify America and EV Go are the other prominent networks across USA for DC fast chargers
• 5,694 of the charging outlets are in California alone (30%) of the fast chargers
US ELECTRIC VEHICLE MARKET SEGMENTATION

By OEM

• Tesla
• Nissan
• Hyundai
• Other OEMs

By Components
• Traction Motor
• Battery
• Power electronics(OBC, DC-DC Conerter, Inverter, Motor controller)

By Vehicle Type
• Passanger Car
• Light Commercial Vehicles
• BUS

By EV Type
• BEV
• PHEV
• HEV
• FCEV

COMPETITIVE LANDSCAPE
Tesla leads the way for EV sales in the USA. They began with Roadster in 2008 and now have Model 3,S,X and Y. Tesla Semi, Roadster and Cybertruck will also hit the market soon. The dominance of Tesla will remain as they increase their production capacity with a new Gigafactory in Texas.

GM launched the Ultium platform with more than 20 models to be launched by 2025, with Hummer SUV and Truck being the first models followed by Cadillac Lyriq and Chevrolet Bolt EV. LG Chem will be one of the biggest associates for GM in their electrification journey.

GM announced a $2.2 Billion investment at its Detroit-Hamtramck assembly plant to produce a variety of all-electric trucks and SUVs along with $800 Million for supplier tooling and other projects related to the launch of the new electric trucks. GM and LG Chem announced plans to build a $2.3 billion plant in Lordstown, Ohio to mass produce battery cells for electric vehicles

COMPANY PROFILES
ELECTRIC CAR MANUFACTURERS

Tesla
GM
Hyundai
Kia
Ford
Rivian
Stellanis
Toyota
Honda

Read More Information: https://mobilityforesights.com/product/us-electric-vehicle-market/

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