Global electric vehicle market grew 29.0 percent annually in April 2022

The global electric vehicle (EV) market sales in the first quarter far outperformed expectations although many EV automakers increased the prices of their models in response to rising raw material costs. However, coupled with lockdowns in some regions in China due to its Zero-Covid policy, this exacerbated supply chain constraints and weakened April sales prospects. According to Researcher and Research LLC, the global EV market sold 540,952 units in April 2022, with a year on year (YoY) growth of 29.0% and a month on month (MoM) decline of 33.0%. The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 69.8% and 30.2%, respectively, compared with 66.0% and 34.0% of the same period last year, BEV showed a slight growth.   Figure 1  Sales units of the global top 10 EV sales countries in April 2021 vs April 2022   China, the US, Germany, France, the

2022-05-14T05:50:51-07:00May 16th, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , , |

South Korea’s electric vehicle market grew at a 124.5% AGR and 13.4% penetration in 2021

The electric vehicle (EV) market in South Korea grew rapidly in 2021, reaching 68,923 units, an annual growth rate of 124.5%. The light commercial vehicle (LCV) market in South Korea is very large, and although its size fits the definition of a passenger car, it is primarily used for the purpose of freight transportation (e.g., Hyundai Porter), Researcher and Research LLC considers that South Korea's data excluding LCV should be used as a benchmark for comparing South Korea with other EV sales countries. However, if LCV is included in the statistics, the South Korean EV market will exceed 100,000 units in 2021. Figure 1  Monthly EV registrations in South Korea in 2021   South Korea's EV market experienced peak registrations in March, June, and September. However, there is no such development pattern in the internal combustion engine (ICE) vehicle market, as shown in Figure 1. Researcher and Research LLC

2022-02-17T22:56:55-08:00January 13th, 2022|Categories: Global EV Snapshot|Tags: |

Supply chain determines the development of electric vehicle OEMs

Global electric vehicle (EV) market growth exceeds expectations in 2021. According to Worldwide Monthly BEV & PHEV Tracker from Researcher and Research LLC, global EV sales volume in this year will be 6.389M units with a YoY growth of 97%. The growth of Chinese EV OEMs is extremely obvious, especially BYD, SAIC, Great Wall Motors, GAC, Xiaopeng, NIO, Chery Automobile, CHJ Automotive, Changan Automobile and Geely Auto Group, which have achieved considerable market shares. And it is worth noting that Chinese OEMs have successfully stepped out of the domestic market this year and made inroads around the world, and opened up the European market with entry-level models such as the hot sale of MG ZS EV. The control of battery metals brings China global advantage of EV supply chains. In addition, EV OEMs have clearly felt the tight supply of batteries in the future since Q3, and have signed supply

2022-01-14T05:14:15-08:00December 29th, 2021|Categories: Global EV Snapshot|Tags: , , , , , , |

Analysis of the strategic partnerships between main EV OEMs and battery suppliers in Europe, America and Asia

The electric vehicle (EV) trend led by Tesla has not only attracted more startups in recent years, but also driven the active transformation of traditional automakers and the rapid growth of the market. Instead of a transmission system, EV directly transmits power to the front and rear electric engines through the battery. Thus, car makers could reduce a lot of energy transmission consumption through their proprietary designs, and also improve their pack of batteries technology, which enables their EV to have higher energy density and enjoy greater advantages. Therefore, battery is the key component of EV. As new and traditional car makers are moving into the EV business, it has become an important strategy for EV makers to establish a deep cooperative relationship with battery manufacturers, and invest in factories together, in order to meet the needs of their own design and development of EV, as well as the high

2021-11-21T23:56:43-08:00November 22nd, 2021|Categories: Worldwide Monthly BEV and PHEV Tracker|Tags: , , , , , , , |
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