ELECTRIC VANMARKET

KEY FINDINGS

1. The Global Electric Van Market reported sales volume of ~XX Units, generating revenue of $XX Million in 2021 and the sales volume is projected to XX Units, worth $XX Million by 2030 with CAGR of 30 % in terms of volume and value
2. Europe is the largest contributor in terms of value, as more electric vans are expected to be launched by the OEMs during the forecast period.
3. The market for the electric vans is less than 10% of the overall van market, and the demand for the electric vans used for last-mile services is currently in high demand in Europe
4. While China and Europe are showcasing the potential for electric vans, other regions like US, etc. will catch up, especially if the vehicle prices decrease. 
5. LCVs in China are mainly based on mini trucks. Electrification of mini trucks is looked into by OEMs and the government mainly for Tier 1 and Tier 2 cities
6. Most of the electric vans/ LCVs spend most of their time inside city centres, either for last-mile delivery/commute or short-haul deliveries.
7. Large orders from last-mile delivery operators/players such as Amazon, FedEx, and others will drive market growth because they will have lower operating costs and the burn of initial capital will not have a significant impact on their cash flow.
8. To attract the customers, OEMs are offering value added services for the fleet operators for ex. Rivian iss offering FleetOS fleet management system to Amazon delivery vans
9. Major component suppliers like Samsung SDI and GKN Driveline are looking to expand manufacturing facilities for electric vans in the North American region, as these are currently concentrated in Europe and China.
10. Fedex has been using electric vehicles since 2010. FedEx has set a goal to operate an all-electric, zero-emission global pickup and delivery (PUD) fleet by 2040
11. As part of its long-term commitment to zero emissions logistics by 2050, DHL plans to operate 70% of its first- and last-mile delivery services with clean transport modes by 2025. This includes mainly the electric delivery vans. 
12. OEMs are only focusing on Europe as the environment is suitable for the growth of electric vehicles government Incentives, No emission zones and a decrease in the total cost of ownership are the major attractions for the customers.
13. Currently, OEMs are struggling to increase their operating margin, while some OEMs who have optimized the manufacturing and R&D process such as NIO, Tesla and some Chinese OEMs are able to generate over XX% operating margin per vehicle.
14. In April 2021, Walmart-owned Flipkart has partnered with Mahindra Logistics to accelerate use of electric vehicles in last mile delivery and will deploy over 25,000 EVs in their EDel fleet by 2030
15. As of 2022, Walmart has planned to buy thousands of electric delivery vans from GM's Bright Drop, joining FedEx as another major customer for the EV spinoff
16. The players in Global Electric Van Market are Stellates, Nissan ,Renault, Volkswagen, Mercedes Benz and Ford.
17. Startups will heavily propel the market in U.S, as they are investing in R&D, component sourcing and tuning the process of manufacturing to increase profit margins.
18. Electric startup Arrival plans to begin delivering its last-mile cargo van powered by a 163-hp engine with a range from 110-210 miles, depending on battery type in late 2022 / early 2023
19. OEMs claim up to 40% reduced costs for running an electric van in comparison to diesel or petrol van, with additional capital spent on procurement of a van recoverable in 48 months
20. Fleet owners in Germany can get €9,000 for fully electric vehicles with a list price under €40,000.
21. In France, currently the maximum amount that can be claimed is €6,000 for purchasing an EV < €45,000. 
22. In UK, Grants for vans will be provided up to $10,000.
23. Ukraine is the biggest exporter of Neon gas, which is an essential part of the production process of the chips used extensively in the e-LCVs. The EV production has already been badly affected over the past year by the microchip shortage
24. Currently, the China's EV industry is onto the  freezing position in the first half of 2022, as there will be a inadequacy of at least 1 million electric vehicles amid the soaring demand
25. In China, the higher cost of procurement of a van compared to a mini truck but offering of same payload is the main reason for preference of mini trucks in this region 
26. Most of the electric vans in Europe are available with two battery sizes (50-55/70-80 kWh) and are expected to deliver range of  200 and 300 kilometers respectively as per the new WLTP cycle
27. The Ram Pro Master EV is the company’s electric delivery van that is expected to be launched in 2023.
28. The battery electric vehicle (BEV) will be delivered to Amazon as its first commercial customer once it is launched in 2023.
29. General Motors built its first electric commercial delivery vehicles through its newly created Bright Drop division. The Bright Drop EV600 was produced to fill an order for FedEx Express in 2021
30. . VW Commercial Vehicles is aiming for a sales share of battery-electric vehicles of more than 55 per cent in Europe by 2030, this sales target is part of the further developed ‘Grip 2030’ strategy.
31. Mercedes-Benz is leading the way in the commercial electric van business, with sales of more than 25,000 electric vans, this has made them the market leader in both midsize and large e Vans.
32. Mercedes plans to accelerate the electric shift with investments of $47 Billion, where it is expected to launch three new all-electric platforms by 2025.
33. Mercedes is building both smaller and bigger vans, such as the e Citan, e Vito, e Sprinter, EQV, and EQT.
34. Hyundai Motor Company and Kia Motors Corporation announced a strategic investment of US $110 million in a new partnership with Arrival. Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and other products for logistics.
35. The Electric Van Market will be propelled by Europe and OEMs will be more  focused in this region
36. However, fleet operators are still reliant on subsidies currently, and ending that will have severe impact on the market.

INTRODUCTION TO ELECTRIC VAN MARKET

The ongoing vehicle electrification wave has not been limited to passenger vehicles and scooters/motorcycles. It is also spreading rapidly to another popular category of vehicles i.e. light commercial vehicles (LCV).

China, US and Europe are the top the three markets for LCVs, accounting for more than 60% LCV sales. But it will be China and Europe driving the growth of electric van market.

To know more about Global Electric Commercial Vehicle Market, read our report

ABOUT EUROPE VAN MARKET

There are three major segments in Europe van market i.e. a) Car derived van 2) Medium duty van and 3) Heavy duty van.

• The car derived vans typically have seating for 2 with 600 kg payload and GVW less than 2 Tones(T). Length is less than 4.5 Meter and Engine capacity (1L – 2L) with power varying from 75hp-162hp and torque 170Nm to 260Nm
• TheMedium duty vansare based on designated LCV platforms( Panel vans (cargo vans), passenger vans and minibuses). The length is 4.7m-5.1m, typically has seating for 2-4 with 1T – 1.5T payload and GVW between 2T – 3.5T. They are usually powered by Diesel engines with (1.8L – 2.3L capacity) with power varying from 160hp- 200 hp and torque 250 Nm to 360 Nm
• The Heavy duty vans are deployed for a wide range of services, construction and parcel deliveries. This class is often sold in chassis form for specialized application in industries such as construction, road repair, waste management, removals and automotive recovery. Length varies between 4.8m to 5.6m and Engines  (2L-3L) produce power from 160hp- 260hp and torque 260Nm to 400Nm

EUROPE LCV FLEET BREAKUP BY COUNTRY

France, Spain and UK account for more than 14 Million vans on their roads.

France, Spain and the UK account for more than 16.7 Million LCVs on the roads. 

ELECTRIC VAN MARKET OPPORTUNITIES

LCVs comprise 60-65% of commercial vehicles sold globally, per annum or (6-6.5 million units). In Europe, LCVs sales outgained the passenger car market in 2018, buoyed by new launches and sustained economic growth, reaching 2 Million+ units.

The van market is heavily influenced by economic trends, especially in housing and retail. Most of the electric vans/ LCVs spend most of their time inside city centers, either for last mile delivery/commute or short haul deliveries.

The average daily distance travelled by these vehicles is in the range of 200-250kms and mostly in urban confines. Therefore, range anxiety is much lower for drivers and fleet operators, not to mention low operating costs and even lower down time could boost a fleet operator`s earnings by a significant margin.

Chinese OEMs will aim to sell their vans in other regions, mainly in Europe to improve their overall sales. This will impact the upcoming models in China, which will have the design preferred by European customers, as the volumes in China are not high enough to spend extra on these elements

Along with improvement in battery technology, and decrease in battery prices, associated power electronics are improving across the board including new materials for chips. Overall improvement of these factors will increase the efficiency of the vehicle and increase the overall range of the vehicle. Fast charging is also seeing a global rise, and this will improve the perspective for fleet operators towards electric vans in association with decreased running costs

The Direct to Consumer market is increasing across Europe & US, causing fleet operators to increase the van fleet size. Online holiday shopping increased by more than 40% between 2019 and 2021. Lower operating costs will entice fleet operators to consider electric vans as they increase their fleet size

IKEA plans to make ladt mile furniture deliveries with electric vans in Shanghai, Paris, Los Angeles, New York, and Amsterdam and has partnered with China based company called DST

To know more about Global Electric Pickup Truck Market, read our report

ELECTRIC VAN MARKET DYNAMICS

The market for light commercial vehicles globally is estimated to grow at the rate of CAGR XX% and reach a worth of $XX billion by the end of the year 2027. This increase is attributed to the focus of governments across the globe to electrify the public means of transportation as well as increase the demand for vehicles with zero emission.

The Asia-Pacific region is estimated to grow steadily with respect to high demand to incorporate electric buses and vans for public transportation. The key automakers and OEMs are developing more efficient and economical designs for commercial vehicles that fulfill the governmental regulations as well as the clean initiatives.

The increase in stringent emission regulations and norms in countries across the globe has incentivised OEMs to develop more technologies for e-mobility. Europe is leading the market in the adoption of commercial electric vehicles in accordance with the norms set up by the European Union.

Several logistics companies, such as PepsiCo and UPS have announced the electrification of their fleet which consists of heavy as well as light duty commercial vehicles in order to minimize the operating costs. As the fuel costs are increasing, the logistics companies cover long distances using these conventional vehicles, with the use of electric vehicles these costs can be minimized.

The company DHL incorporated its first fleet of delivery by electric vans in the year 2020, with deploying 9 Lightning Electric Ford Transit 350HD electric vans to be used in the US. The company has now announced plans to deploy 89 of these electric vans by the end of the year 2021 in the state of California and New York.

The company Amazon has also announced to incorporate electric vans in its delivery fleet which will be built by the company Riviana by the end of the year 2021.

In order to build a 100,000-unit fleet of its absurd-lookin EDV (Electric Delivery Vans), EV startup Riviana is already collaborating with Amazon. However, the California-based automaker is now prepared to enter another partnership.

Mercedes-Benz Vans and Riviana today disclosed that they had signed a memorandum of understanding to launch a "strategic partnership," which, if all goes according to plan with the necessary legal procedures, will result in the formation of a new joint venture for the manufacturing of electric vans.

As part of this joint venture, a brand-new factory in central or eastern Europe would only produce electric vehicles, "leveraging an existing Mercedes-Benz site." With two already planned, this production facility will concentrate on producing large electric vans for Riviana and Mercedes-Benz.

While the other will be supported by the second-generation Riviana Light Van (RLV) platform, the first will be based on VAN. EA, the Mercedes electric van architecture.

Just three months after the companies partnered to produce electric vans in Europe, Riviana Automotive Inc (RIVN.O) announced it is halting its joint venture with Mercedes-Benz Vans. The manufacturer of electric vehicles stated that in order to turn its U.S. operations into cash flow positive, it will concentrate on its consumer and current commercial business.

This partnership's suspension reflects their ongoing evaluation of our major capital projects, which takes into account our past, present, and future economic conditions.

DEVELOPMENTS IN EUROPE ELECTRIC VAN MARKET

The access restriction by major European cities like London, Madrid to allow only plug-in vehicles to ply in city centers is a major growth driver for electric van market.

Geely(owner of London Electric vehicle company) will begin will begin deliveries of the PHEV van in 2021 first in London and the UK market, and later expanding to Europe.

The demand for campers / recreational vehicles which are normally converted from vans by third parties is also growing.

Ford's midsize Transit Custom PHEV van is expected to arrive towards end of 2019. Ford will also sell a fully electric van post 2021 to join Street Scooter, a company set up by the Deutsche Post DHL Group, which has a partnership with Ford.

Most of the electric vans will be available with two battery sizes (50-55/70-75 kWh) and are expected to deliver range of  200 and 300 kilometers respectively as per the new WLTP cycle.

VAN MARKET SHARE IN EUROPE

Vans comprise almost 90% of Europe`s LCV market, highest globally. The market is evenly split between car derived van , small commercial van and medium commercial vans. Pickups comprise a very small 9% share of the LCV market in Europe.

Ford Transit custom,Citroen Berlingo and Mercedes Sprinter are the leaders in Small commercial, car derived van and Medium commercial vans respectively.

ELECTRIC VAN MARKET RECENT DEVELOPMENTS

1. August 2021 -The company General Motors announced the development of a full-size electric van for cargo in the Chevrolet fleet as a medium/light-duty truck. The vehicles will be offered as a BEV with the company's Ultium cells as well as Hydrotec fuel cells. However, the launch is expected to be in the year 2025.
2. August 2021 -The company Daimler’s subsidiary FUSO has launched the new electric light-duty truck Canter in Europe and its sales.
3. July 2021 -The company GMC has announced the addition of yet another electric pick-up truck after the success of its Hummer EV.
4. April 2021 -Fiat has launched the electric version of its van Ducato. The company has also announced the variants with 2 battery sizes and the price of the e-Ducato to be $73,369 which is twice of the ICE vehicle.
5. April 2021 -The company Rivian has announced the use of Samsung SDI’s battery cells for its R1T electric pick-up vans/trucks and for the R1S electric SUV and also for the company’s upcoming electric commercial vehicles.
6. April 2021 -The company Tevva which produces electric commercial vehicles announced partnership with Vattenfall, a major European energy company to develop a zero-emission vehicle fleet to curb the emissions through public transportations.
7. April 2021 -The company Daimler and PGE (Portland General Electric) launched their new electric truck charging station in Portland, Oregon which is first-of-its kind.
8. April 2021 -DHL express has partnered with Fiat professional to purchase the first 100 units of the electric van produced by the company E-Ducato. It has a range of more than 200 km. DHL has announced plans to incorporate 14,000 electric vans for operations in the European region by the year 2030.
9. May 2021 -The company Daimler Trucks has launched a new line of consulting services and chargers for the electric commercial vehicle market in support of deploying more fleets for electrification.
10. January 2021 -General Motors has announced development of a new commercial vehicle brand Brightdrop which consists of a hub motor and powered with electric pallets which will assist the movement of goods easily for short distances.
11. September 2020 -The company Proterra launched its fifth generation ZX5 battery-electric transit bus which features a new streamlined design. The vehicle is equipped to store 660kW of energy and deliver 330 miles of range for drive.
12. September 2020 -Mercedes Benz which is a subsidiary of Daimler AG has introduced an all-electric eCitaro G light duty commercial vehicle which is equipped with new solid state batteries.
13. March 2020 -The company BYD developed a Blade Battery which can also be employed in light duty commercial vehicles set to mitigate the concerns regarding battery safety in EVs.
14. Jan 2020– Hyundai-KIA invested $110 Million in UK based electric van startup, Arrival(now valued at $3.4 Billion). Arrival plans to manufacture and sell electric vans in all major markets. It has already received orders for 10,000 electric vans from UPS
15. Dec 2019– Mercedes-Benz  started  production of a fully electric version of  Sprinter van at its factory in Dusseldorf, Germany.It has a 55kWh quad-pack battery and  ~170km range per charge. The eSprinter delivers 85kW power output and 300 Nm maximum torque, same as its  diesel equivalent with  900kg payload capacity. A tri-pack battery option is also available that offers more (1040kg) payload capacity, but has a shorter range of 115km
16. Dec 2019– Ford has planned self-driving vans and drones that could make high speed deliveries in coming years. The concept envisions electric self-driving vans working together with drones to pick up and drop off goods and packages once the van reaches the assigned drop off address
17. Nov 2019– DHL announced it will debut StreetScooter’s zero-emission Work L delivery van in two urban U.S. markets, one on each coast, startingQ1- 2020. Full deployment could happen around 2022 -2023
18. Sep 2019– After Rivian got an Amazon order worth $4 Billion from Amazon. It showcased  a full-size commercial delivery van with a large wheelbase.Deliveries of the 100,000 van orders will start in 2021 and should be completed by 2024.

Recent developments in electric vehicles (EVs) have been driven by the ongoing cha-nge from fossil fuels to renewable, clean energy, which has become increasingly important as governments and companies move towards greener, more sustainable transport policies.

Several technological and policy changes have had an enormous impact on the electric vehicle industry in recent years. For example, the emergence of lithium-ion battery technology has enabled EV batteries to become lighter, smaller, and more efficient.

In addition, investments in EV charging infrastructure have allowed consumers to use bi-directional chargers and access much faster charging times when traveling long distances.

Policymakers at both the regional and national levels have also had a significant impact on the EV market. Several countries, including Denmark, Netherlands, Norway, and the United Kingdom, have implemented policies with the goal of shifting from internal combustion engines to EVs, such as offering incentives for electric car purchases and disincentives for diesel vehicles.

In addition, some governments have also committed to increasing the production of electric vehicles and investing heavily in EV infrastructure and charging networks.

Innovations in EV technology have allowed for much greater range and performance from electric cars, in addition to making them more affordable.

Automakers are working to make EVs with a much longer range by developing more efficient batteries, reducing rolling resistance, and reducing weight through the use of lighter materials.

As well, advancements in fast charging technology have been instrumental in allowing consumers to drive longer distances and recharge their vehicle much more quickly. 

The rise of autonomous vehicles has also been a major factor in the development of electric vehicle technology. Automakers have been working on both hardware and software components to enable autonomous vehicles to drive safely, reliably, and efficiently.

This has resulted in the development of advanced technologies such as advanced sensors, navigation systems, and autonomous driving systems that significantly reduce the risk of collisions. Furthermore, autonomous vehicles open up new market opportunities for EVs, such as in shared mobility and autonomous delivery services.

As electric vehicles become more common, they are transforming the transportation landscape. They are becoming increasingly popular thanks to their lower emissions and running costs, and their improved performance and range.

This, combined with technological advances in batteries and charging infrastructure, as well as the implementation of policies to promote cleaner, more sustainable transport policies, is allowing the electric vehicle market to grow rapidly. In the years to come, EVs are likely to become an important part of the global transportation system.

ELECTRIC VAN MARKET RECENT LAUNCH

Renault launched new variants of MASTER  ZE fully electric transport vans. It offers large mile connectivity in urban areas. It has a vertical grille and covers a large front bumper that stands out as a key design. This incorporates a 3.5-inch TFT digital display. It is available in L2 AND L3 lengths.

This has a range of up to 120 kilometers. The ZE 33 lithium-ion battery with a capacity of 33kWh is used in ZE master. The battery provides energy for the R75 electric motor and delivers 76hp and 225 Nm of maximum torque.

Compact van collaboration between Mercedes, Nissan, and Renault has a long history, and it is still in place in the age of electricity. The Nissan Townstar and Renault Kangoo E-TECH models below are the sister models of the Mercedes eCitan, and both their payload and cargo capacity are anticipated to be on par with their diesel and gasoline-powered counterparts.

With a top speed of just over 80 mph and a maximum power output of 101 bhp and 245 nm from a single electric motor, the front wheels are propelled. To meet the high demand for commercial EVs that are suitable for both personal and commercial use, Honda introduces the light electric van "N-VAN."

Electric startup Arrival plans to begin delivering its last-mile cargo van powered by a 163-hp engine with a range from 110-210 miles, depending on battery type in late 2022 / early 2023. The van comes with an 11-kW AC onboard charger with DC fast-charging capabilities up to 120 kW.

General Motors is planning to release the EV600, an all-electric vehicle. The van will be the first vehicle under GM’s new BrightDrop commercial business branch. The EV600 will be able to go up to 250 kilometres on a single charge. The fact that BrightDrop is a one-stop shop environment is a game changer. BrightDrop could help fleets with deliveries from start to finish.

FedEx will receive the first 500 vans. The EV600 is the first commercial vehicle to feature GM's next-generation Ultium battery system, which the company has spent billions developing as a foundation for future electric vehicles. The EV600 is the second product to be released under the new BrightDrop brand. The EP1, a propulsion-assisted electric pallet, will be the first.

Based on Honda's light commercial N-VAN, the new EV. The automaker will add the features that current customers most value (large storage space, ease of use, flexibility), turning it into an electric workhorse, despite the growing demand for zero-emission EV options for commercial and private use.

Its brand-new electric van will have an extremely low noise level and quick acceleration. Honda's electric van is compact and has a short range, but it will be perfect in Japan, where it will be introduced.

Mercedes will introduce a new electric van platform and broaden its camper lineup. By the end of the decade, the Mercedes-Benz van portfolio will appear very different. The carmaker has declared that it would introduce a new platform for battery-electric vehicles that will serve as the foundation for all upcoming mid- and full-size models.

The company will be able to offer private luxury vans in the US for the first time and increase the variety of RVs it offers thanks to the new VAN.EA architecture.There are three distinct blocks that make up the new platform. The front block, which houses the front axle and electric drivetrain in each variant, is the same. The length of the car is determined by the center block, which is also where Mercedes puts the batteries.

The car manufacturer will provide the rear block in two different configurations: one with an electric motor (providing a van all-wheel drive) and one without.With a targeted range of "well over" 310 miles (500 km), the company's private luxury vans (VAN.EA-P) will fit into the mid-size sector. The automated driving system will debut with SAE Level 2 technology, and Level 3 is planned.

The platform will also enable the business to distinguish between the external style of passenger and commercial versions. VAN.EA was created entirely by Mercedes with battery-electric vehicles in mind. In its pursuit of growth, which includes a focus on the US market, it anticipates that the new design will lessen complexity and boost economies of scale.

With private luxury vans and an increased selection of recreational vehicles (RVs), including a new range of mid-size and full-size electric camper vans, it wants to draw in new clients.The car manufacturer will create its new VAN.Alongside the combustion-powered Sprinter, EA versions are also available; the latter's output will depend on demand.

A VAN will take the place of the new electric eSprinter, which will debut in the US later this year.after the debut of the new platform, an EA-based replacement

ELECTRIC VAN MARKET COVID-19 IMPACT

The COVID-19 pandemic has caused many sectors in the industry to experience a decline in the manufacturing as well as sales activities; however, some sectors such as medical have flourished. The automotive sector has experienced a steady growth for some of the companies and sectors, the EV market has grown consistently with growing demand for such vehicles.

Although some of the companies in this ector have suffered from the pandemic due to the lockdown and restrictions put in place in regards to the pandemic protocol across the globe.

For instance, the VDL Groep reported a loss in revenue of around 32% in the H1 of the year 2020 in comparison to the H1 of 2019. The company AB Volvo has also closed most of its manufacturing units temporarily and laid off employees from those units. The company having its headquarters in Sweden has announced a lay-off scheme for approximately 20,000 workers.

ELECTRIC VAN MARKET RISKS

The recent shutdown of DHL joint venture with Ford called Street-scooter after suffering years of losses came as a reality check to the electric van market. When the production ceases later this year, the total financial writedown is expected to be in the range of $330-$440 Million .

The high costs to electrify commercial vehicles and develop electronic components such as BMS, CAN modules and batteries for these vehicles is a primary restraint for their manufacture and development. The developmental costs for charging infrastructures for electric vehicles are also high.

The battery of the vehicles also needs additional equipment to be set in place for the infrastructure such as the chargers and charging stations. The set-up costs for EVs are more than for the conventional ICE vehicles.

ELECTRIC VANMARKETRECENT DEVELOPMENT

New compact electric vans were invented in collaboration with Toyota and Suzuki.  Toyota has been a glaring underdog in the quickly growing electric car market, but the Japanese automaker has unveiled a number of new EV investments and models. The BYD-co developed bZ3 electric vehicle, Toyota's second EV, made its China debut.

The carmaker has also hinted at a number of new cars, including the bZ Sport Crossover and bZ FlexSpace ideas as well as an aerodynamic sports car. A substantial element of the proposed redesign will feature the launch of a dedicated EV platform, which Toyota promises will use highly efficient batteries to increase the range of upcoming models.

Toyota, Suzuki, and partner Japanese carmaker Daihatsu Motor collaborated to develop a new EV platform and a line of compact electric vans to address the rising emissions in deliveries as more companies and fleets switch to electric vehicles.

At an exhibition event hosted by the Japan Automobile Manufacturers Association, the automakers will display a prototype of the micro electric vans based on the jointly created system.

Combining the small-car know-how of Suzuki and Daihatsu with "Toyota's electrification technology" allowed for the creation of electric vans. New commercial EV models are now being developed with the "goal of creating a vehicle that can fully meet the needs of customers in the delivery industry.

Four distinct models of a new range of electric vans, were introduced by Kia. Both a cargo-carrying version and a passenger-carrying version of the larger electric van will be offered. 

the more compact version will have automated driving features. In an effort to increase its position in the commercial vehicle market, the carmaker has teased a new electric van range that will include four different models.

Along with increasing its production of passenger EVs, Kia is concentrating on gaining a larger market share in the commercial vehicle industry. Early designs made public by the automaker show that these vehicles were made specifically to fit a variety of body types and sizes.

The new electric van line from Kia, internally referred to as the SW project, is meant to be adaptable and versatile. Regarding the appearance, Kia's electric vans mirror the electric vehicle designs that the start-up Canoo EV has previously shown.

Kia has released teasers for its upcoming line of electric vans, which will comprise a delivery van, a ride-hailing van, a robotaxi, and three different sizes of vans in each class (big, small, and midrange). To meet the unique requirements of diverse organisations, Kia claims that the SW series of electric vans will come in a range of sizes.

ELECTRIC VAN MARKET UPCOMING LAUNCHES

ELECTRIC VAN MARKET COMPETITIVE LANDSCAPE

The PSA Group which consists of companies like Peugeot, Citroen, DS and Opel Vauxhall have recorded an increase of approximately 23% in the number of units sold for electric vans as well as light duty commercial vehicles. The number of units sold and/or registered by these companies in the year 2020 are given below:

The Renault group has registered a record number of sales for vehicles during the first half of the year 2021 with a total 1.42 million vehicles registered. Out of the total vehicles, the light duty commercial vehicles are 241,820. The group also recorded a total revenue of $27.65 billion for the first half of the year 2021 which was a significant increase in comparison to the same term for the year 2020 which was $21.82 billion.

The Renault group in June 2021, entered into a strategic partnership with the company Envision AESC to support the manufacture and development of low-cost advanced technology batteries by the year 2024. It has also signed an agreement with a French company Verkor to co-produce and develop locally sourced, high performance sustainable batteries for EVs by the year 2022.

The company has selected STMicroelectronics to be the major innovator and developer of all advanced power electronic semiconductors for EVs and HEVs to be produced from the year 2026. The group has partnered with the global leader in resource management Veolia, to recycle the end-of-life cycle EV battery metals in a closed loop process.

The Daimler group has recorded the total sales of 736,400 units sold/registered during the second quarter of the year 2021, the increase from 541,800 units in the year 2020 was significant despite the shortage in the semiconductor industry.

The company recorded a revenue of $51.5 billion for the Q2 of 2021 which was greater than the revenue of $35.7 billion in the year 2020. The company’s subsidiary Mercedes Benz recorded an increase in sales by 29% for the cars and vans division.

The company Hino Motors Co. which is a subsidiary of the Toyota motor has signed a strategic agreement with REE automotive to develop next-generation mobility solutions for commercial vehicles.

They will develop a mobility service module for the delivery of goods and services in the future. The company Rivian has also confirmed the development of a second factory for the production of commercial electric vehicles in the heavy to light duty range. The project is called ‘Project Tera’ which has secured a funding of $2.5 billion in the round which included Ford as well as Amazon.

THIS ELECTRIC VAN MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. List of upcoming electric and PHEV vans, by OEM, by region, by powertrain
2. Market size and forecast for 2024-2030 in the Electric Van Market
3. Profitability analysis for OEMs and suppliers in the Electric Van Market
4. Opportunity for electric battery, motor, power electronics suppliers in Electric Van Market
5. List of top 20 fleet operators in US, Europe, China, India and ROW
6. Detailed breakdown of incentives offered by governments, by region