Strategic Intelligence: Electric Vehicles

The electric vehicle (EV) industry is undergoing significant transformations as shifts in supply chains reshape power dynamics globally.Electric vehicle adoption is already widespread in major economies, such as China and the US. However, range anxiety continues to hinder broader EV adoption. While electric car sales surged by 39% year-on-year from Q1 2024 to Q1 2025, many potential buyers remain hesitant due to concerns about charging availability and convenience. The analyst forecasts in 2024, global battery electric vehicle (BEV) sales rose by 13%, reaching 10.4 million units and accounting for 14% of new personal vehicle sales.

Shifts in EV supply chains are reshaping power dynamics

In 2024, global battery electric vehicle (BEV) sales rose 13% to reach 10.4 million, accounting for 14% of new personal vehicle (PV) sales. BEVs accounted for 9% of sales in the US, 15% in the EU, and 27% in China. The US is aiming to bring battery and vehicle manufacturing back onshore. In response, Europe is implementing state aid to counter American incentives while simultaneously working to decrease its dependence on Chinese components. Meanwhile, China is aggressively expanding its global presence through strategic partnerships and competitive pricing. This realignment is fostering new power centers in the global EV race, prompting companies to adapt or risk obsolescence.

Range anxiety continues to impact EV adoption

Global BEV sales continue to rise, with electric car sales up 39% year-on-year (YoY) from Q1 2024 to Q1 2025. However, many potential buyers still hesitate due to concerns about charging availability and convenience. This reluctance is worsened by the fragmented nature of charging networks, especially in rural and economically disadvantaged areas. Permitting delays, inconsistent standards, and a lack of interoperability among networks further impede progress. As governments set ambitious phaseout targets for internal combustion engines (ICE) by 2030 and 2035, addressing consumers’ concerns that they will run out of battery charge before reaching their destination will be crucial for keeping the transition on track.

Tariffs and trade wars are transforming the EV landscape

Rising trade tensions among the US, EU, and China are swiftly reshaping the EV market. In response to the influx of low-cost Chinese EV exports, the EU has enacted provisional tariffs of up to 38%, while the US has increased import duties on Chinese EVs to 100%. These actions aim to protect domestic manufacturers but could provoke retaliatory measures and disrupt global supply chains. Automakers are already reevaluating their global strategies, with some establishing localized production hubs and others reconsidering their market entry plans. The EV market is evolving into a battleground not just for technology but also for geopolitical influence

Scope

This report offers a comprehensive analysis of the electric vehicle industry including:

• A technology briefing
• Electric bvehicle technology, macroecnomic, and regulatory trends
• Leading companies in the electric vehicles theme
• A break down of the components in the electric vehicle value chain
• Industry analysis
• A thematic scorecard ranking majorvehicle manufacturing companies in the electric vehicle theme

Reasons to Buy

• As the electric vehicle (EV) industry undergoes significant transformation, several compelling reasons emerge for stakeholders to invest in this dynamic sector. This report is essential reading for senior executives as it outlines key trends and strategies that can help businesses navigate the evolving landscape of electric vehicles and capitalize on emerging opportunities.