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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
The primary reasons driving towards the industry's growth in the coming years is favourable government laws and subsidies sensitivity to ecological concerns.
In 2019, EV subsidies were cut, resulting in a modest drop in electric car sales in 2019. However, the government continues to offer a significant subsidy on EVs.
As a result, the Electric business model remains to appeal to those sensitive about their planetary footprints and social standing, as well as early adopters of technology advancement and those that can take advantage of government incentives to help offset the additional cost.
| S No | Overview of Development | Development Detailing | Region of Development | Possible Future Outcomes |
| 1 | Canada funds production of electric vehicles in zero emissions push | The Canadian government is enacting a sales requirement that will ensure that all new light-duty vehicle sales are made in Canada. | Canada | This would enhance better Technological Controls |
| 2 | Canadian govt invests $423 million in EV production in zero-emission push | The increased federal investment in Stellantis' project finance, which will modernise assembly plants and enhance electric vehicle production (EV). | Canada | This would enhance better Technological Controls |
| 3 | New EV Chargers Coming to New Brunswick | It has announced an investment of $83,938 in WSC Colpitts Developments (2003) Ltd., which will construct 22 Level 2 EV chargers in many multi-unit residential buildings in Fredericton. | Canada | This would enhance better Technological Controls |
| 4 | General Motors to launch Canada's first commercial electric vehicle hub in Ontario | At its CAMI automotive assembly factory, General Motors will build Canada's first full-scale commercial electric vehicle manufacturing hub. | Canada | This would enhance better Technological Controls |
Autonomous motors can play an important part in this evolving EV market, as Canada has highlighted them as a critical contributor to meeting our transportation sector greenhouse gas emissions reduction target of 12 megatons of CO2 by 2030.
However, success will necessitate a collaborative ecosystem of people. This is going to have to alter immediately. Canada aims to reduce emissions from light-duty vehicles by seven megatons by 2030, out of a total of 12 megatons.
Toyota Inc. is a leading mobiliser of the various explorer oriented electric vehicle manufacturer requirements in the market. Economy, Standard, and Power are the three driving modes available on the Proace Electric and Proace Verso Electric, which are selected using just a centre console-mounted button.
The new versions include medium-duty vans including personnel carriers with seating for up to nine persons. The smallest of the two is a 50 kWh battery with 18 modules that weighs 383 kg and has a driving range of up to 230 kilometres.
The larger, 27-module device weights 534 kg and produces 75 kWh.
Hyundai Trucks and Bus is a leading mobiliser of the various explorer oriented electric vehicle manufacturer requirements in the market. HMC's zero-emission buses seems to be the result of its designers' never-ending quest for commercial trucks that are practical, reliable, and unique.
This breakthrough, which is in line with the era of smart globalisation, embodies the exquisite mix of CV engineers' experience and expertise. With its modern design that is equivalent to that of advanced countries, the new model, Elec City, has re-established the character of modern mass transit. It also hints to Hyundai's future plans and mind-set.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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