HOME Research Insight Tesla Motors Inc. is one of the Leading Players in the Global EV market

Tesla Motors Inc. is one of the Leading Players in the Global EV market

The global EVs, EV Infrastructure and EV components market is projected to grow at a CAGR of 20.68% during the forecast period, to reach to 5.76 Million units by 2021 from estimated sales of 2.25 Million units in 2016. The base year for the report is 2015 and forecast year is 2021. Favorable government policies and support in terms of subsidies and grants, tax rebates and other non-financial benefits in the form of car pool lane access, and new car registration (specifically in China where ICE engine new car registration are banned in some urban areas) and the increasing vehicle range and better availability of charging infrastructure would drive the global EV sales.

Agreements, partnerships, collaborations, and joint ventures were the most dominant strategy adopted by key market players to achieve growth in the electric vehicle market. Automobile manufacturers such as Nissan Motor Corporation (Japan), Tesla Motors Inc. (U.S.), BYD Co. Limited (China), battery manufacturers such as Samsung SDI (South Korea), LG Chem Ltd. (South Korea), Panasonic Corporation (Japan,) and charging infrastructure providers such as ChargePoint (U.S.) and Car Charging Group (U.S.) are the major companies that adopted this strategy.

New product launches and developments were the second most adopted strategy by automotive EV market players to cater to the growing demand from customers. Nissan Motor Corporation (Japan), Tesla Motors Inc. (U.S.), Volkswagen AG (Germany), and BYD Co. Limited (China) are the auto OEMs who have adopted this strategy. However, in the EV components and EV infrastructure segment, ChargePoint (U.S.), Delphi Automotive PLC (U.K.), Samsung SDI (South Korea), and Panasonic Corporation (Japan) were the market players who opted for this strategy in this segment.

Tesla Motors Inc. is one of the leading players in the global EV market. The company is one of the largest manufacturer for electric vehicles catering to the premium segment. The company also provides their own super-fast charging infrastructure, specially made for the Tesla owners which fully charges the vehicle in less than an hour. In 2016, Tesla also inaugurated their Gigafactory at Nevada, U.S., to accelerate their growth by producing lithium-ion batteries. The companyís name Gigafactory has been taken from the manufacturing plantís planned annual battery production capacity of 35 gigawatt/hours (GWh).

Another important player in the industry is Nissan Motor Corporation, one of the most successful EV manufacturers in the world. In 2010, the company launched the Nissan Leaf, which was considered the world's bestselling highway-capable fully electric car till 2016. The company has entered into multiple joint ventures, agreements, collaborations, and supply contracts with multiple companies to cater to the growing demand for EVs globally. For example, in 2015 Nissan and BMW (Germany) collaborated to develop an advanced EV and a plug-in hybrid vehicle (PHEV) in South Africa. Both companies have also planned to jointly work on a project to build a national grid of EV charging stations for use by both Nissan and BMW electric vehicles.

Related Reports:

EVs, EV Component & EV Infrastructure Market by Govt. Regulation, Vehicle Type, Components (Battery, On-Board Charger, Infotainment System, Instrument Cluster), Propulsion (BEV, PHEV, HEV, FCEV), Recharging Station, and Region - Global Forecast to 2021

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