Electric Vehicle (EV) Market Leaders: Nissan Motors, Tesla Corp., General Motors, Mitsubishi Motors, Volkswagen, Daimler AG, Smith electric Vehicle, Bosch GmbH, Delphi Automotive

Global Electric Vehicle Market Information, by Type (PHEVs, BEVs, HEVs), by Component (Battery, Automotive parts, Sub-assembly), by Manufacturing Process (Raw material, Design, Quality control, Assemblies) - Forecast 2027

Latest EV Industry News
6 Nov. 2017, Government of India declared that it is working on policy to promote electric vehicles manufacturing. The government has asked auto companies to start manufacturing electric vehicles in India, and is also studying global markets to come up with a policy surrounding electric mobility and storage.

6 Nov. 2017, Government of India declared grants to cities to buy Electric Vehicles for public (mass) transport. While expressing the government’s View and emphasis on buying Electric Vehicles, the spokesperson said that using clean energy modes like electric vehicles for shared mass transport will help bring down high pollution level in big cities. The Centre has invited proposals from cities with population above 10 lakh for extending grants under the FAME India scheme to promote large-scale adoption of electric vehicles in multi-modal public transport. Such grants are surely escalate the market growth of EV Market.

5 Nov. 2017, Ryder Systems Inc. (U.S) a truck leasing and Rental Company declared that it has ordered 125 all-electric delivery vans from Chanje. The deal is considered as one of the first big purchases made in the still nascent electric truck industry.

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3 Nov. 2017, IONITY, a group formed of mainly German car makers announced that the joint venture will build out a pan-European network of 400 fast charging stations for electric vehicles by the year 2020. The venture - IONITY, is backed by BMW AG, Daimler AG, Ford Motor Co and Volkswagen with its Audi and Porsche brands. Each charging point will have a capacity of 350 kW, and will use the existing European standard, the Combined Charging System, to reduce charging times compared to existing systems. The system is not tied to brands, which should make EVs more appealing to drivers. However, in the US under the flagship of Tesla - the all-electric challenger, established brands are teaming up to ensure that electric vehicles (EVs) can get quickly back on the road after hooking up to a High-Power Charging (HPC) station.

31 Oct. 2017, TVS Motor announced that it is to launch electric Jupiter by June 2018. The electric Jupiter is expected to come up with a lithium-ion battery, which can go up to 50 km range.

30 Oct. 2017, Tesla Inc. (electric-car maker) announced that it has finalised a deal to build its own manufacturing plant in China.

Electric Vehicle Market Overview:
According to a recent study report published by the Market Research Future, The Global Market of Electric Vehicle has increased its market growth in recent years and is expected to grow with the steady pace during the forecast period. This growth will be a surpassing its previous growth records in terms of value with a modest CAGR during the anticipated period (2016 – 2027). However, it will still be considered as a slow growth despite the expected rise of sales of EV which will be doubled to 4000 units by 2018 and will further keep growing till 2027.

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Post 2027, accelerating demand for Electric vehicles attributing to advance battery technology, government mandate and initiatives for speedy uptake of electric cars coupled with the sunken battery cost and significantly lowered prices of electric Vehicles will phenomenally drive the market growth. At present, high cost of electric vehicle and high charging time of vehicle are the factors which are hindering the growth of Electric Vehicle Market.

EV Industry Players:
Nissan motors (Japan), Tesla Corporation (U.S.), General motors (U.S.), Mitsubishi Motors (Japan), Volkswagen (Germany), Daimler AG (Germany), Smith electric Vehicle (U.S.), Bosch GmbH (Germany), and Delphi Automotive plc. (U.K.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Electric Vehicle Market.

Electric Vehicle Market - Regional Analysis
North-America dominated the Global Electric Vehicle Market with the largest market share due to growing trend of low operating cost and sustainable development of electric vehicle in the region, and therefore accounting for astronomical amounts and is expected to grow further over its previous growth records by 2027. Electric Vehicle Market in European market is expected to grow at a substantial CAGR during 2016 to 2027. The Asia-Pacific market for Electric Vehicle Market is expected to grow at a considerable CAGR (2016-2027).

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In China, there is a huge push for New Energy Vehicles (NEVs) in order to cut down on urban pollution. In another effort to scale globally and earn international attention, some Chinese Electric Vehicles companies recently (Sep.’17 onwards) have begun to ship EVs (electric trucks) to the United States. This will pave the way for China to have increased influence on the global EV market.

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This release was published on openPR.