Electric Vehicles are changing the automobile industry, and it's very evident this upsurge in the EV market is strongly supported by the consumer demand. In this blog, we will explore in brief about the regions with lot of market traction towards EVs and list down the companies that are leading this sector.
1. North America and US
New data from the analysis of electric vehicle sales has reveal that Tesla?s best-selling Model 3 sales are still the primary driver of development on the US automotive market.
In the first half of 2019, just under 150,000 plug-in electric vehicles were delivered in the US, 57% of which, was Tesla vehicles when they included plug-in hybrids (PHEVs) and 78% when considering only electric battery vehicles (BEVs).]
Further, a recent market insight found that as many as 40 million Americans would at least consider a battery-electric vehicle, or BEV, for their next car. And as a flood of new models comes on the market, the public may be more interested in battery-based vehicles.
2. China and Asia
China has become, by far, the leading manufacturer of the three main kinds of electric cars: Mild Hybrid Electric Vehicles (MHEV), Plug-in Hybrid Electric Vehicles (PHEV) and Battery Electric Vehicles (BEV).
More electric cars were sold in China in 2018 than they were combined in the rest of the world. Over the past decade, the Chinese government has spent nearly $60 billion to develop a sector that builds electric cars, while also decreasing the number of permits accessible to gasoline-powered vehicles to boost electric car demand. And in the next century, Beijing intends to invest just as much.
China has 99% of the world?s 250 million electric two-wheelers. That?s almost 100 times the world?s entire amount of electric passenger vehicles. This can be attributed to the goverment reforms and rules.
Based on the latest market analysis, it was found that the electric vehicles market will rise six times from around 750,000 in 2019 to over a million by 2025. It considers a 60/40 split between electric battery cars (BEVs) and hybrids plug-in (PHEVs) as well as more than 330 distinct designs.
The European passenger plug-in vehicle market scored some 37,000 registrations in April, a 30 per cent increase over the same period last year.
Fully electric vehicles (BEVs) jumped 70 per cent year-over-year in April to some 24,000 deliveries and accounted for 65 per cent of all month-long plug-in sales. The BEV share of the car industry as a whole was 1.8%. Adding plug-in hybrids (PHEVs) to the tally, the share jumps to 2.8 per cent, making the 2019 plug-in car (PEV) share up to 3.0 per cent (2.0 per cent for BEVs alone) above the 2018 outcome of 2.5 per cent.
Tesla, the innovative technology firm of Elon Musk, is renowned for developing high-quality, state-of-the-art high-end and creative cars. The Tesla Model S and Tesla Model X, and progressively the low-cost Tesla Model 3, are the two most common cars in Tesla.
The Model S is the luxury sedan of Tesla and was the largest rated car ever tested by Consumer Reports at the moment of its first launch. The Model X is Tesla?s electric SUV with falcon-wing doors, space for seven passengers, and a range of nearly 300 miles per charge. Model 3 is a low-cost sedan alternative for those who do not want the Model S luxury vehicle to pay the high price.
BMW is a German automobile corporation producing luxury automobiles. The BMW i3, an all-electric luxury SUV with a compact 5-seater intended mainly for urban and suburban travel, has recently joined the electric car market, is one of their companies best selling EV
Headquartered in Japan, Nissan has sold the highest number of EV?s. The Nissan Leaf is leading its electric car products. The Leaf, the world?s most famous electric vehicle, provides all the advantages of electric driving while remaining at a comparatively low cost.
Volkswagen is a German automaker renowned for the VW Beetle offering in Volkswagen e-Golf an inexpensive and reliable electrical car choice. The e-Golf has a battery variety of about 80 miles per charge and looks like a traditional Volkswagen car.
Ford is a classic American car manufacturer, creating a multitude of cars for sale from pickup trucks to plug-in hybrids globally. Ford Focus Electric is their leading electric vehicle. The Focus Electric is an electric version of the popular Ford Focus, an affordable EV with all the look and feel of a standard vehicle, but with more than 100 miles per battery charge.
Chevrolet is American company General Motors? automotive segment, selling a wide variety of cars around the world. The Chevrolet Bolt is Chevy?s first foray into the all-electric car market, offering more than 220 miles per charge at a cost far below other long-range cars.