+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)


Asia-Pacific Automotive High-Performance Electric Vehicles Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4515605
  • Report
  • June 2019
  • Region: Asia Pacific
  • 60 Pages
  • Mordor Intelligence


  • BMW AG
  • BYD Co Ltd
  • General Motors
  • Groupe Renault
  • Honda Motor Co., Ltd.
  • Hyundai Motor Company
Market Overview

The Asia-Pacific High-Performance Electric Vehicles Market is expected to register a CAGR of 25.21%, during the forecast period, 2019-2024.

Electric high-performance vehicles can be differentiated from other EVs on aspects such as longer range of distance (i.e. over 90 miles in a single charge), which is significantly high compared to other commercially available EVs. EHPVs also have high acceleration and can attain a speed of over 90 miles per hour with an acceleration of 0 to 60 miles per hour, unlike that of EVs, which can range at speeds varying from 40-65 miles per hour. Even though these types of vehicles have been introduced recently and their technology is still in its development stage, the growing popularity of electric vehicle is expected to propel the market for HPEV in the Asia-Pacific region.

The growing awareness of vehicle emissions such as CO2, lower operating and maintenance costs, along with an increase in a government initiative to encourage the use of electric vehicles will also help to drive the growth of high-performance electric vehicles significantly. Consumer perception and willingness to purchase the automobiles with new technologies drive the demand for these vehicles in China, Japan, and Korea. China and Japan are the major contributors to the EHPV market in APAC. China witnessed an increase in the adoption of battery electric vehicles across the country.

Scope of the Report

The Asia-Pacific automotive high-performance electric vehicles market has been segmented by drive type, vehicle type, and geography.

Key Market Trends

Increasing Demand for Plug-in Hybrid Electric Vehicles

China, the largest market for automobiles is also the largest market for high-performance electric vehicles in the region followed by Japan. The emission regulations and the subsidies for hybrid and electric vehicles in the Asia-Pacific region helped it achieve a considerable portion of the global electric and hybrid vehicles market. Though the subsidies and emission standards have helped increase the sales of green vehicle sales, the share of the sales of the plug-in electric vehicles globally is less than 1%.

The immense fluctuations of the fuel prices and the decrease in the subsidies offered on the plug-in hybrid vehicles in the major markets, such as China are affecting the sales of the vehicles. In contrast, many automakers are launching the plug-in hybrid versions of the existing vehicles, which indicate that the market trend is shifting toward environment-friendly plug-in hybrid vehicles.

The manufacturers such as Mercedes-Benz, Volvo, BMW, Volkswagen, Ford, Mitsubishi, etc. have already launched the plug-in hybrid versions of the existing IC engine vehicle models, which have registered a considerable portion of the sales of the overall plug-in vehicle sales globally. In the Asia-Pacific market, China is the largest maker and the market for plug-in hybrid vehicles, with manufacturers such as BYD, SAIC, and BAIC leading the market.

Indian Market Growing at a Faster Pace

With the increasing concerns on environmental pollution, the government has preponed the implementation of the next stage of the emission standards, Bharat Stage 6, to 1st April 2020, which was planned to be implemented in the year 2024. The government is making several strategies to reduce pollution in the country. One among such strategies is the FAME, which is an abbreviation for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles. The government has decided to take a critical role in supporting the creation of demand and acceptability of PHEVs and EVs, spurring collaborative R&D efforts and enabling required infrastructures to take its shape. The government has also decided to implement a robust PHEV and EV demand generating scheme, in terms of size and duration to meet the objectives of bridging the gap in the acquisition price of PHEV and EV, in comparison to the normal ICE vehicle and for the creation of a manufacturing ecosystem for these technologies to become viable. Government support for R&D and electric vehicle infrastructure are believed to facilitate the creation of affordable PHEV and EV solutions that can meet consumer expectations as well.

The Indian government has devised a potential roadmap for the hybridization/electrification of transport. This map involves creating consumer acceptability by offering incentives and subsidies. Furthermore, the government will take part in the application and development of technology. The government will be responsible for supporting the local manufacturing capabilities of the automakers. With this roadmap, the Government of India plans to make electric vehicle and plug-in-hybrid vehicle market economically viable and self-sustaining by 2020. The government has also announced investments of over INR 13,000 crores for demand incentives, INR 1,800 crores for R&D investments, INR 5,000 crores for power infrastructure and INR 1,200 crores for charging infrastructure.

Competitive Landscape

Toyota Motor Corporation, Daimler (Mercedes-Benz), BMW, Hyundai, Nissan, and Kia are the most prominent players in the high-performance electric vehicles market. OEMs are focusing on developing cost-effective electric vehicles that have better range.

With the increasing sales of the plug-in hybrid vehicles in the Asia-Pacific region, especially in China, Toyota has planned to introduce more plug-in hybrid versions of the existing vehicle models. The company plans to launch the plug-in hybrid vehicle versions of the Corolla and Levin in the country.

Going a step further, the US automotive giant, General Motors is planning to launch more than 10 plug-in hybrid electric vehicles, which include the PHEV versions of the existing models such as the Cadillac CT6, which will be manufactured in Shanghai. The company’s joint venture with SAIC would be the manufacturing plant for the plug-in hybrid vehicles in the country.

This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown


  • BMW AG
  • BYD Co Ltd
  • General Motors
  • Groupe Renault
  • Honda Motor Co., Ltd.
  • Hyundai Motor Company

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.5 Market Restraints
5.1 By Drive Type
5.1.1 Plug-in Hybrid Vehicle
5.1.2 Pure Electric Vehicle
5.2 By Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Geography
5.3.1 Asia Pacific China Japan India South Korea Rest of Asia-Pacific
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 BMW AG
6.3.2 Daimler AG (Mercedes-Benz)
6.3.3 Toyota Motor Corporation
6.3.4 Kia Motors Corporation
6.3.5 General Motors
6.3.6 Nissan Motor Co., Ltd
6.3.7 Hyundai Motor Company
6.3.8 Honda Motor Co., Ltd.
6.3.9 Volkswagen AG
6.3.10 Groupe Renault
6.3.11 BYD Co Ltd
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • BMW AG
  • Daimler AG (Mercedes-Benz)
  • Toyota Motor Corporation
  • Kia Motors Corporation
  • General Motors
  • Nissan Motor Co., Ltd
  • Hyundai Motor Company
  • Honda Motor Co., Ltd.
  • Volkswagen AG
  • Groupe Renault
  • BYD Co Ltd
Note: Product cover images may vary from those shown