Global EV Market Update - Q2 2022

Global Electric Vehicle Market Quarterly Update

1. In China, the EVs share increased sharply as ~28% of the new passenger vehicles sold in Q2-2022 were EVs. In H1-2022, total number of EVs sold crossed 3M and the number is expected to breach 6M units in 2022. China’s vehicle exports also increased 65% from a year ago, with electric vehicles accounting for 27% of them.
2. In Europe EVs (BEVs+HEVs+PHEVs) accounted for 41% of the overall Passenger Vehicles sold in the Q2-2022 period. The share was ~37% for the year 2021. 
3. Battery cell prices are expected to surge by 22% from 2023 through 2026, peaking at $138 per kilowatt-hour. The price of EV battery cells has declined in recent years as production increased across the plants. Battery cells currently cost ~$128 per kWh on average, and by next year could cost around $110 per kWh.
4. Vitesco will be supplying its EMR4, 4th gen  Electronics Motor Reducer e-axle to Hyundai’s B & C Segment EVs from 2024. The e-axle in a single package comprises an electric motor, power electronics and a gearbox (single-speed also called a reducer)
5. The E-axle developed by BluE Nexus Corporation, AISIN Corporation, and DENSO Corporation was fitted in the Toyota’s bZ4X model. The eAxle has a power of 150kW specification (front) for FWD vehicles and 80kW specifications (front and rear) for 4WD vehicles
6. n the US, Currently, the credits/incentives are phased out after a manufacturer has sold 200,000 electric or plug-in hybrid vehicles. For the first time, in the country electric used cars are subjected to an incentive (tax waiver) of $4,000. This will boost the electric used car segment which was very naive in the US

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. EV penetration rise/decline, top selling vehicles by region
2. New product pipeline by OEMs, Key consumer and retail trends by region
3. EV component sourcing trends (Battery, Traction Motor, power electronics and other key components)
4. Key updates in regulatory environment, government incentives, retail and battery recycling by region
5. Key updates in Charging infra (Fast charging, public charging, battery swapping and fuel cell stations) by region