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: , , , , , , , , , , , , , |

Global electric vehicle market grew 70.7 percent annually in Q1 2022

According to Researcher and Research LLC, the global electric vehicle (EV) market grew to 2.004 million units in the first quarter of 2022, with a year on year (YoY) growth of 70.7%, as shown in figure 1.   Figure 1  Global quarterly EV sales and annual growth rates, Q1'21-Q1'22   The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 72.8% and 27.2%, respectively, compared with 67.5% and 32.5% of the same period last year, BEV was on a rise. In terms of EV sales volume and market shares in major countries, China remains the world's largest EV sales country, with an annual growth rate of 145.0% and a market share of 56.5%, up significantly from 39.4% in the same period last year. With annual growth of 61.1%, the US had overtook Germany to become the world's second-largest market by sales, as shown in figure

2022-04-16T20:48:04-07:00April 18th, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , |

US electric vehicle market with high automaker concentration

Since the outbreak of Covid 19 in the first quarter of 2020, the global auto market has continued to face the impact of supply chain constraints, and the Russian invasion of Ukraine and inflation have exacerbated supply chain risks this year. The United States, the world's second-largest auto market after China, has undoubtedly been affected, with its passenger vehicle market showing negative growth year-over-year in all but five months from March to July 2021. In contrast, the annual growth rate of the US electric vehicle (EV) market outperformed the overall auto market by a wide margin, as shown in figure 1.   Figure 1  Monthly annual growth rates for EV and passenger vehicle in the US   The US EV market is the second-largest globally, but its size is far smaller than that of China. For example, in February this year, the Chinese market accounted for 39.3% of the

2022-04-09T05:02:11-07:00April 11th, 2022|Categories: Global EV Snapshot|Tags: , |

Global electric vehicle market grew 91.7 percent annually in February 2022

According to Researcher and Research LLC, global electric vehicle (EV) market grew to 543,818 units in February , with a year on year (YoY) growth of 91.7%. The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 69.7% and 30.3%, respectively, compared with 64.7% and 35.3% of the same period last year, BEV was on a rise. In terms of EV sales volume and market shares in major countries, China remains the world's largest EV sales country, with an annual growth rate of 182.8% and a market share of 54.3%, up significantly from 36.8% in the same period last year, as shown in figure 1. With annual growth of 65.9%, the US continued overtaking Germany to maintain the world's second-largest market by sales, with its market share falling to 11.0% from 12.7% in the same period last year. Germany, the third-largest sales country, grew 24.2% a

2022-03-18T05:23:08-07:00March 21st, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , |

Global electric vehicle market to grow year on year at 104.9% in January 2022

According to Researcher and Research LLC, despite the negative impact of global shortages of automotive chips, global electric vehicle (EV) market grew to 652,733 units in January, with a year on year (YoY) growth of 104.9%. The proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 73.1% and 26.9%, respectively, compared with 69.1% and 30.9% of the same period last year. BEV had grown more and its mainstream status was firmly established. In terms of EV sales volume and market share in major countries, China remains the world's largest EV sales country, with an annual growth rate of 137.5% and a market share of 58.2%, up from 50.2% in the same period last year, as shown in figure 1. With annual growth of 118.9%, the US overtook Germany to become the world's second-largest market by sales, with its market share rising to 8.2% from 7.7% in

2022-04-04T05:55:10-07:00February 21st, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , , , , |

Waymo cooperates with Geely to bring Chinese car into the US market

From Waymo’s announcement, it teams up with Geely to bring the Waymo One autonomous ride-hailing fleet in the US in the coming years. The product development is at Geely Zeekr’s R&D facility, CEVT (China Europe Vehicle Technology) center, in Sweden. Waymo will integrate its Waymo Driver into a robotaxi base from Geely’s SEA (Sustainable Experience Architecture) M platform. In addition, both Waymo and Geely have partnerships with other companies to develop self-driving cars. For example, Waymo is working with Stellantis and Jaguar in the US. Geely has cooperated with Baidu in China. Since Geely Zeekr are made in China, the Waymo One should be manufactured in China. But under consideration of the requirements of the US government, the production base will be highly likely in America. We think the reason why Waymo cooperates with Geely is that its ability of cost reduction, control of supply chain, and management of the

2022-01-14T05:13:46-08:00December 30th, 2021|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: , , , , , , , |

The US electric vehicle market June sales overview and H2 2021 forecast

According to Worldwide Monthly BEV & PHEV Tracker from Researcher and Research, the US electric vehicle (EV) sales hit an all-time high of 65,593 units in June, with YoY and MoM up 132% and 34%, respectively, as shown in figure 1. Figure 1  US monthly EV sales   There were currently 55 models in the US EV market, but only 38 models had monthly sales of more than 100 units, and only 11 models had more than 1,000 units. The proportion of the top ten was as high as 82% (the top twenty was even as high as 92%), indicating that the concentration of models in the US market was quite high, as shown in figure 2. Figure 2  Sales of the top 10 models in USA   Tesla Model Y and Model 3 were the top two in sales, and Model S Plaid was ranked 8th immediately after

2021-09-06T06:30:57-07:00July 21st, 2021|Categories: Worldwide Monthly BEV and PHEV Tracker|Tags: , |

The US EV sales in May 2021

According to Worldwide Monthly BEV & PHEV Tracker from Researcher and Research, the US electric vehicle (EV) market has resumed growth in May, reaching 49,125 units compared to the sharp drop in demand in April, with YoY growth of 213% and MoM growth of 20%, as shown in figure 1. Figure 1.  US monthly EV sales Tesla still dominated the US market with a 42% market share in May, but this was much lower than the 57% market share in Q1, as shown in figure 2. In addition to the production line adjustment of Fremont Factory, the delayed launch of the newly modified Model S and Model X was also the main reason. Figure 2.  Sales of the top 10 models in USA Ford Mustang March-E, which takes Tesla Model Y as the competitor, had a market share exceeding 10% in February after its launch at the beginning

2021-09-06T06:34:33-07:00June 10th, 2021|Categories: Worldwide Monthly BEV and PHEV Tracker|Tags: , |
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