This market spotlight focuses on the electric vehicle (EV) markets in Denmark, Sweden, and Finland, which rank among the leaders in Europe in terms of EV shares of new passenger car registrations. The spotlight highlights key trends in EV adoption and examines policy measures and market characteristics that are likely to shape EV uptake in these countries.
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BYD continued to lead light-duty EV sales in China and accounted for approximately one-third of all sales. Geely led among legacy automakers: Nearly 34% of its LDV sales were EVs, a 14-percentage-point increase from 2023. Compared with 2023, absolute PHEV sales in China nearly doubled, rising from 2.4 million to 4.5 million in 2024. The share of PHEVs among EVs in China rose from 31% in 2023 to 40% in 2024. In 2024, approximately 125,000 EVs were sold in India. This represented nearly 3% of the country’s LDV (four-wheeler) sales in 2024. MG doubled its EV sales share from 23% in 2023 to 47% in 2024. Stellantis and Tata Motors also increased their EV sales shares, from 15% to 22% and 10% to 11%, respectively. Mahindra’s EV sales share remained unchanged from 2023 at 1%. Major global automakers including Suzuki, Toyota, and Honda did not sell any EVs in India in 2024.
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This provides an overview of electric vehicle (EV) policies in selected Association of Southeast Asian Nations (ASEAN) countries. It investigates the EV policies and targets, the current status of EV introduction, EV reuse plans, and battery reuse policies. While EVs have gained traction in many countries due to policy support, few nations have a long road ahead to scale up EV adoption.
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Using economic modeling from 2024 to 2040, the report highlights the importance of Michigan seizing the opportunities electrification presents. Additionally, it presents policy recommendations to help Michigan attract and retain good jobs, support workers and ensure local communities benefit from the transition.
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Indian Minister of State for Heavy Industries has announced that the government is planning to install 6,000 charging stations for electric vehicles (EVs) across nine expressways in the country. As per the government’s statement, charging is the biggest problem when it comes to the use of EVs, referring to the hurdles in EV adoption, including the time it takes to charge automobiles.
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The necessity for a stable climate, decreased fuel costs, reduced petroleum dependency, and clean air, especially for those who are disproportionately affected by pollution, definitely acts as factors that motivate governments to move to electric cars. Major economies with significant car production, such as China, Japan, Germany, the United States, and others, suffer the biggest industry risk if they delay the transition to electric vehicles. In a related development, the Biden administration’s American Jobs Plan proposes $52 billion in U.S. assistance for domestic manufacturing, including tax incentives and access to financing.
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The Indian state of Gujarat has launched a progressive and future-looking electric vehicles (EV) policy today. One out of every three passenger cars manufactured in India comes from Gujarat. The state’s announcement today will provide a fillip to the electric mobility ecosystem in the country.
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