Global electric vehicles industry. Each student is expected to write a short case study on ”The Global Electric Vehicle (EV) industry” . Report structure with headings, appendices, reference list expected.
Each student is expected to write a short case study on ”The Global Electric Vehicle (EV) industry”
Report structure with headings, appendices, reference list expected.
Word limit -2000 words
The case should include the following:
1. A brief snapshot of the global EV industry (approx. 100 -200 words).
2. Using Michael Porter’s five force framework, conduct an industry scan for the global EV industry (approx. 800-1000 words).
3. How has COVID impacted the EV industry? (approx. 300-400 words)
4. The future of EVs as compared to conventional cars. Are EVs really ’green’? (approx 300-400 words)
This assessment aims to provide students with the opportunity to hone their analytical skills. Students are expected to do secondary research by looking for recent data/ information on the country, industry, and market. Apply theory from the text, make an informed decision, and/or sound recommendations.
The global electric vehicle market was valued at $163.01 billion in 2020, and is projected to reach $823.75 billion by 2030, registering a CAGR of 18.2% from 2021 to 2030.
The COVID-19 pandemic has had an adverse effect on the overall automotive industry and thereby electric vehicle industry as well. As per the data released by Society of Electric Vehicle Manufacturers (SMEV), new EV registration of all types of electric vehicles during FY21 dropped by 20 percent compared with the number of new EV registrations in FY20.
In addition, amid pandemic many different players are trying to devise different approaches in order to keep up with the condition by using electric vehicles for medical supplies as it provides affordable transportation with excellent maneuverability.
For instance, Omega Seiki Mobility recently launched Rage+frost, a refrigerated load carrier three-wheeler, which is specifically designed for vaccine, pharmaceutical, and food delivery in these hard times.
An electric vehicle operates on electricity unlike its counterpart, which runs on fuel. Instead of internal combustion engine, these vehicles run on an electric motor that requires constant supply of energy from batteries to operate.
There are a variety of batteries used in these vehicles. These include lithium ion, molten salt, zinc-air, and various nickel-based designs. The electric vehicle was primarily designed to replace conventional ways of travel as they lead to environmental pollution. It has gained popularity, owing to numerous technological advancements.
It outperforms conventional vehicles providing higher fuel economy, low carbon emission & maintenance, convenience of charging at home, smoother drive, and reduced sound from engine. There are three types of electric vehicles batteries, hybrid, and plug-in hybrid electric vehicles. In addition, electric vehicles require no engine oil changes but are slightly expensive than their gasoline equivalents.
Factors such as increase in demand for fuel-efficient, high-performance, & low-emission vehicles, stringent government rules & regulations toward vehicle emission along with reduction in cost of electric vehicle batteries and increasing fuel costs supplement growth of the electric vehicle market.
Moreover, factors such as lack of charging infrastructure, high manufacturing cost, and range anxiety and serviceability are the factors expected to hamper growth of the EV market.
Furthermore, factors such as technological advancements, proactive government initiatives and development of self-driving electric vehicle technology are expected to create ample opportunities for the key players operating in the electric vehicle market.
The global electric vehicle market is segmented on the basis of type, vehicle type, vehicle class, top speed, vehicle drive type, and region.
By type, it is divided into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). By vehicle type, it is classified into two-wheelers, passenger cars, and commercial vehicles.
By vehicle class, it is classified into mid-priced and luxury class. On the basis of top speed, it is segmented into less than 100 MPH, 100 to 125 MPH, and more than 125 MPH. By vehicle drive type, it is segmented into front wheel drive, rear wheel drive, and all-wheel drive. By region, the market is analyzed across North, Europe, Asia-Pacific and LAMEA.