Exploring Development Opportunities for Affordable Electric Vehicles

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Report
27 Pages
May 2023
Region: Global
Market Intelligence & Consulting Institute (MIC)
ID: 5797684

As the global energy crisis intensifies, the demand for environmental protection is also growing significantly. EVs (Electric Vehicles) are considered a greener and more sustainable transportation option worldwide. However, the long-standing high prices have limited the popularization of EVs. With the continuous advancement of technology and active promotion of policies, the global automotive market is gradually changing. In addition to the price of EVs, the TCO (Total Cost of Ownership) for fuel-powered and electric vehicles is becoming comparable, making consumers more willing to choose electric vehicles. This report provides an overview of the development of the affordable EVs from the perspectives of policy support and price reduction; looks into key factors leading to cost reduction in EVs; examines the cost-reduction measures of carmakers and analyzes the development trends of traditional and new carmakers in affordable EVs.

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1. Policy Support as Key Driving Force for Affordable EV

1.1 Policy Promotion
1.2 Policy Thrust
1.3 Gradual Decline in EV Prices of Automakers in Recent Years
1.3.1 Tesla
1.3.2 Volkswagen Group
1.3.3 Audi
1.3.4 BYD
1.3.5 Nissan

2. The Popularization and Affordability of Electric Vehicles Go Hand in Hand

2.1 Gradual Improvement in EV Service Levels
2.1.1 Vehicle Range for EVs Improved
2.1.2 Gradual Completion of Charging Infrastructure
2.1.3 Charging Payment Methods Becoming Easier
2.1.4 Supporting Regulations for Charging Infrastructure
2.2 Declining Prices of EVs Following Mass Production
2.3 Energy Crisis Impacting Oil Prices While Electricity Prices Remain Stable
2.4 Similar Costs of Ownership between Electric and Fuel-powered Vehicles
2.5 Mobility-as-a-Service as New Future Trend
2.5.1 Cruise
2.5.2 Waymo
2.5.3 Zoox
2.5.4 Baidu

3. Key Factors Promoting Cost Reduction in EV

3.1 Battery Costs
3.2 Automotive Semiconductor Costs
3.3 Changing Landscape of Electronic-Electric Vehicle Architecture

4. The Mindset of Carmakers on Affordable Cars

4.1 Affordable Car Models Vie for Market Share
4.2 Car Prices are Affordable but Not Low-Cost

5. Cost-Reduction Measures of Carmakers

5.1 Tesla
5.1.1 In-house Battery Production and Increased Suppliers
5.1.2 Vehicle Design Enhancements
5.1.3 Affordable Self-driving Solutions
5.1.4 Production Scalability
5.2 Traditional Carmakers
5.2.1 Shared Car Platform
5.2.2 Vehicle Design Enhancements
5.3 New Carmakers
5.3.1 Development Through Platforms of Traditional Carmakers
5.3.2 In-house Automotive Software Technology
5.3.3 Supply Chain Autonomy
5.3.4 Direct Sales Model

6. Analyst's PerspectiveAppendix
List of Companies

List of Tables

Table 1 Electric Vehicle Policies in Major Countries: Subsidy Reduction and Termination Timelines
Table 2 Electric Vehicle Policies in Major Countries: Continued Subsidy Support with Stricter Conditions
Table 3 Regulations on Charging Stations of Major Countries
Table 4 Sensor Adoption in Self-Driving Solutions of Major Carmakers
Table 5 Production Information of Tesla's Major Factories

List of Figures

Figure 1 Promotional Policies on Charging Stations and Piles of Major Countries
Figure 2 Concept of Electric Vehicle Charging Roaming Services
Figure 3 The Illustration of Cruise EV Model
Figure 4 The Illustration of Waymo EV Model
Figure 5 The Illustration of Zoox EV Model Figure 6 The Illustration of Baidu EV Model

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

Audi
Baidu
BMW
BYD
Cruise
Cupra
Faraday Future
Fisker
Ford Motor
Honda
Hyundai
II-VI Inc.
JAC Motors
KIA
LG Chemical
Li Auto
Lucid
Mazda
NIO
Nissan
Panasonic
Polestar
Qromis
Rivian

Methodology

Primary research with a holistic, cross-domain approach

The exhaustive primary research methods are central to the value that the analyst delivers. A combination of questionnaires and on-site visits to the major manufacturers provides a first view of the latest data and trends. Information is subsequently validated by interviews with the manufacturers' suppliers and customers, covering a holistic industry value chain. This process is backed up by a cross-domain team-based approach, creating an interlaced network across numerous interrelated components and system-level devices to ensure statistical integrity and provide in-depth insight.

Complementing primary research is a running database and secondary research of industry and market information. Dedicated research into the macro-environmental trends shaping the ICT industry also allows the analyst to forecast future development trends and generate foresight perspectives. With more than 20 years of experience and endeavors in research, the methods and methodologies include:

Method

Component supplier interviews
System supplier interviews
User interviews
Channel interviews
IPO interviews
Focus groups
Consumer surveys
Production databases
Financial data
Custom databases

Methodology

Technology forecasting and assessment
Product assessment and selection
Product life cycles
Added value analysis
Market trends
Scenario analysis
Competitor analysis

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Table of Contents

Companies Mentioned (Partial List)

Methodology

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