Strategic Insights Into The Global EV Manufacturing Ecosystem OEM Strategies, Advancements in Automation and AI Integration, and Circular Economy Principles - Global Forecast To 2035

The Electric Vehicle market size is projected to grow from 15,707 thousand units in 2024 to 46,315 thousand units by 2035, at a CAGR of 10.3%. The future of EV manufacturers will be shaped by a shift to modular and scalable assembly platforms that enable faster production and customization. Tesla is developing an electric car platform called ""NV9X"" for their next-generation vehicle, codenamed ""Redwood,"" which will use this architecture internally. Further, Automation and artificial intelligence-driven manufacturing processes will dominate, increasing efficiency and reducing costs. Manufacturers will increasingly integrate circular economy practices, emphasizing battery recycling and sustainable materials. Collaboration with battery manufacturers will be key, especially for the advancement of solid-state and sodium-ion batteries. In addition, EV manufacturers will focus on affordable models to achieve mass adoption, alongside premium offerings with advanced connectivity and autonomous driving capabilities.

“Passenger cars segment is estimated to hold the largest market share during the forecast period.”

The passenger car segment dominates market share in China thanks to a combination of government incentives, strict emissions regulations and growing consumer preference for electric vehicles. The Chinese government has heavily subsidized EV adoption through tax exemptions, purchase incentives and infrastructure investment, making EVs more affordable. Further, rising awareness of environmental issues and advances in battery technology have made electric vehicle increasingly attractive to consumers. To capitalize on this trend, Chinese OEMs such as BYD, NIO, Geely and SAIC are ramping up EV production with ambitious initiatives. These include developing advanced battery technologies such as solid-state and lithium iron phosphate (LFP) batteries, expanding global footprints and investing in smart manufacturing facilities. Companies are also looking to integrate software such as autonomous driving and connected car technology to differentiate themselves in the competitive electric vehicle market. Additionally, partnerships with global and domestic suppliers to secure raw materials such as lithium and cobalt underline their commitment to a sustainable supply chain. Looking ahead, Chinese OEMs are striving to lead the global EV market by introducing innovative models, expanding production capacity, and meeting the growing demand for affordable and premium EVs at domestically and internationally.

“Development in EV platformization and platform sharing boosting the EV manufacturing process”

Platformization and platform sharing have emerged as important techniques for electric vehicle manufacturers to acquire scalability, cost performance, and faster time-to-market. By developing modular and bendy EV architectures, inclusive of Volkswagen’s MEB platform, Hyundai’s E-GMP, and Renault’s CMF-EV, automakers can standardize components throughout multiple models and brands, decreasing production complexity and achieving economies of scale. Hyundai and Kia's internal platform-sharing strategy maximizes economies of scale across segments, from mainstream to luxury vehicles. The Electric Global Modular Platform (E-GMP) underpins models like Hyundai Ioniq 5/6/7, Kia EV6, and Genesis GV60. Further, These systems assist various automobile types, together with sedans, SUVs, and even business vehicles, enabling producers to cater to diverse market segments with minimum layout modifications. In May 2024, SAIC Motor and Audi officially signed a cooperation agreement to jointly expand the Advanced Digitized Platform, following a memorandum of information signed in July 2023. This trend not only lowers production costs but also facilitates advancements in battery technology, software integration, and autonomous driving systems, as shared platforms provide a consistent foundation for implementing new features across a wider vehicle lineup. As an end result, platform sharing is poised to accelerate the transition to electrification at the same time as improving profitability and sustainability for producers globally.

“Europe is anticipated to be one of the fastest markets over the forecast period.”

Europe is poised to be one of the fastest-growing market for electric vehicle manufacturing, driven by ambitious climate policies, significant government incentives, and stringent emissions regulations. European OEMs are ramping up their EV production capacities, with major initiatives focused on achieving carbon neutrality and meeting surging demand. Volkswagen is leading the charge with its ""Accelerate"" strategy, targeting 80% EV sales in Europe by 2030 and investing heavily in battery gigafactories under its PowerCo division. BMW is committed to making at least 50% of its sales electric by 2030, with its ""Neue Klasse"" platform set to underpin its next-generation EVs. Mercedes-Benz is transitioning to an all-electric future by 2030 in markets where conditions allow, supported by its electrified production facilities and partnerships for battery development. Meanwhile, smaller OEMs like Polestar and Fisker are introducing cutting-edge EV models to meet niche demands. The region also benefits from a robust ecosystem of battery supply chains, supported by initiatives like the European Battery Alliance, and investments in renewable energy integration for sustainable EV manufacturing.

By Company Type: Tier 1 – 60%, OEM – 40%.

By Designation: C Level – 40%, D Level – 35%, and Others – 25%

By Region: North America – 20%, Europe – 30%, Asia Pacific (excl. China) – 35%, and China– 15%

Research Coverage:

Future of EV manufacturing market is segmented by vehicle type (Passenger Cars and Commercial Vehicles) and region (China, Asia Pacific (excl. China), Europe, and North America). The market study includes future strategies by OEMs, EV Ecosystem, Current and Future Trends in EV manufacturing and Regulatory Framework.

Reasons to buy this report:

The report will provide market leaders and new entrants with information on the closest approximations of the sales numbers for the EV market and its subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report provides insights on the following pointers:

•Technology Analysis: Insights on current and upcoming technologies, future investments, and critical OEMs and supplier strategies. Covered major electric components, technological trends such as the platform sharing, and market players providing these.

Market Landscape by vehicle type (Passenger Cars and Commercial Vehicles), by region (China, Asia Pacific (excl. China), Europe, and North America).

Supplier Analysis: The report analyzes market players, growth strategies, and product offerings of leading players. It also helps stakeholders understand the strategy of the EV manufacturers and provides information on their recent developments and investments in the market. OEM-wise decarbonization targets are also covered.

Tables List

Table 1 Market Definition, By Process

Table 2 Annual Cost Comparison: Ice Vehicle Vs. Electric Vehicle Models

Table 3 Electric Vehicle Market, By Region, 2024–2030 (Thousand Units)

Table 4 Electric Vehicle Market, By Region, 2031–2035 (Thousand Units)

Table 5 Electric Vehicle Market, By Vehicle Type, 2024–2030 (Thousand Units)

Table 6 Electric Vehicle Market, By Vehicle Type, 2031–2035 (Thousand Units)

Table 7 Upcoming Electric Passenger Car Models, 2025–2027

Table 8 Electric Passenger Cars Market, By Region,

2024–2030 (Thousand Units)

Table 9 Electric Passenger Cars Market, By Region,

2031–2035 (Thousand Units)

Table 10 Upcoming Electric Commercial Vehicle Models, 2025–2026

Table 11 Electric Commercial Vehicles Market, By Region,

2024–2030 (Thousand Units)

Table 12 Electric Commercial Vehicles Market, By Region,

2031–2035 (Thousand Units)

Table 13 Government Regulations On Electric Vehicle Manufacturing,

By Key Country

Table 14 Government Incentives And Subsidies By Key Countries

Table 15 Key Policies And Production Targets For Zero-emission Vehicles

By Key Countries

Table 16 Investment And Development Targets For Zero-emission Vehicles

By Key Oems

Table 17 In-house And Outsourcing Strategies Adopted By Oems Across Functions

Table 18 Current And Future Trends In Electric Vehicle Designing

Table 19 Benefits Of Digital Twins In Electric Vehicle Powertrain Design

Table 20 Current And Future Trends In Electric Vehicle Prototyping

Table 21 Benefits Of Electric Vehicle Prototyping

Table 22 Current And Future Trends In Battery Manufacturing

Table 23 Current And Future Trends In Electric Vehicle Motor Manufacturing

Table 24 Current And Future Trends In Electric Vehicle Assembly

Table 25 Electric Vehicle Assembly Trends And Strategies Adopted By Oems

Table 26 Tesla: Upcoming Gigafactories

Table 27 Byd: Upcoming Gigafactories

Table 28 Catl: Upcoming Gigafactories

Table 29 Upcoming Gigafactories In Europe

Table 30 Upcoming Gigafactories In North America

Table 31 Upcoming Gigafactories In Asia Pacific

Table 32 List Of Giga Cast Adoption Plans By Key Automakers

Table 33 Tesla: Company Overview

Table 34 Tesla: Future Plans For Electric Vehicle Production

Table 35 Tesla: Platforms Used In Electric Vehicle Models

Table 36 Byd Auto Co., Ltd: Company Overview

Table 37 Byd Auto Co., Ltd: Future Plans For Electric Vehicle Production

Table 38 Byd Auto Co., Ltd: Future Platforms For Electric Vehicle Models

Table 39 Volkswagen Ag: Company Overview

Table 40 Volkswagen Ag: Future Plans For Electric Vehicle Production

Table 41 Volkswagen Ag: Future Platforms For Electric Vehicle Models

Table 42 Zhejiang Geely Holding Group: Company Overview

Table 43 Zhejiang Geely Holding Group: Future Plans For Electric

Vehicle Production

Table 44 Zhejiang Geely Holding Group: Platforms Used In Electric

Vehicle Models

Table 45 Saic Motor: Company Overview

Table 46 Saic Motor: Future Plans For Electric Vehicle Production

Table 47 Saic Motor: Platforms Used In Electric Vehicle Models

Table 48 Stellantis Nv: Company Overview

Table 49 Stellantis Nv: Future Plans For Electric Vehicle Production

Table 50 Stellantis Nv: Platforms Used In Electric Vehicle Models

Table 51 Bmw Group: Company Overview

Table 52 Bmw Group: Resource Efficiency

Table 53 Bmw Group: Future Plans For Electric Vehicle Production

Table 54 Bmw Group: Platforms Used In Electric Vehicle Models

Table 55 Bmw Group: Current And Upcoming Models, By Electric Vehicle Platforms

Table 56 Hyundai Group: Company Overview

Table 57 Hyundai Group: Future Plans For Electric Vehicle Production

Table 58 Hyundai Group: Platforms Used In Electric Vehicle Models

Table 59 Hyundai Group: Current And Upcoming Models, By Ev Platforms

Table 60 Ford Motor Company: Company Overview

Table 61 Ford Motor Company: Future Plans For Electric Vehicle Production

Table 62 Ford Motor Company: Platforms Used In Electric Vehicle Models

Table 63 Ford Motor Company: Current And Upcoming Models, By Ev Platforms

Table 64 General Motors: Company Overview

Table 65 General Motors: Future Plans For Electric Vehicle Production

Table 66 General Motors: Platforms Used In Electric Vehicle Models

Table 67 General Motors: Current And Upcoming Models, By Ev Platforms

Table 68 Renault Group: Company Overview

Table 69 Renault Group: Future Plans For Electric Vehicle Production

Table 70 Renault Group: Platforms Used In Electric Vehicle Models

Table 71 Renault Group: Current And Upcoming Models, By Electric

Vehicle Platforms

Table 72 Tata Motors Limited: Company Overview

Table 73 Tata Motors Limited: Future Plans For Electric Vehicle Production

Table 74 Mahindra & Mahindra Ltd.: Company Overview

Table 75 Mahindra & Mahindra Ltd.: Future Plans For Electric Vehicle Production

Table 76 Mahindra & Mahindra Ltd.: Platformization Developments

Table 77 Toyota Motor Corporation: Company Overview

Table 78 Toyota Motor Corporation: Next-generation Bev Battery Development

Table 79 Toyota Motor Corporation: Future Plans For Electric Vehicle Production

Table 80 Toyota Motor Corporation: Platforms Used In Electric Vehicle Models

Table 81 Toyota Motor Corporation: Current And Upcoming Models,

By Ev Platforms

Figures List

Figure 1 Research Methodology Model

Figure 2 Breakdown Of Primary Interviews

Figure 3 Electric Vehicle Market, By Vehicle Type

Figure 4 Electric Vehicle Market, By Region

Figure 5 Us: Breakdown Of Total Cost Of Ownership For Key Electric Vehicle Models

Figure 6 Bill Of Materials For Ice And Electric Vehicles,

2024 Vs. 2030 (Usd Thousand)

Figure 7 Electrification And Sales Targets By Key Oems

Figure 8 Electric Vehicle Market, By Region, 2024 Vs. 2035 (Thousand Units)

Figure 9 Electric Vehicle Market, By Vehicle Type,

2024 Vs. 2035 (Thousand Units)

Figure 10 China: Ice And Electric Vehicle Sales, 2024–2035 (Million Units)

Figure 11 Asia Pacific (Excluding China): Ice Vs. Electric Vehicle Sales,

2024–2035 (Million Units)

Figure 12 Europe: Ice Vs. Electric Vehicle Sales, 2024–2035 (Million Units)

Figure 13 North America: Ice Vs. Electric Vehicle Sales, 2024–2035 (Million Units)

Figure 14 Electric Vehicle Battery Manufacturing Capacity, By Country,

2021–2025

Figure 15 Electric Vehicle Battery Manufacturing Capacity Of Key Players, 2030

Figure 16 Use Of Modular Body Construction For Electric Vehicles

Figure 17 Battery Technology Roadmap, 2022–2035

Figure 18 Technology Trends For E-motors, 2022–2035

Figure 19 Architectures Of Wired And Wireless Bms

Figure 20 Electric Vehicle Assembly Process

Figure 21 Tesla: Manufacturing Location

Figure 22 Byd E4 Platform

Figure 23 Volkswagen Scalable System Platform

Figure 24 Stellantis Nv: Circular Economy Model

Figure 25 Stellantis: Technological Platform

Figure 26 Bmw Group: Average Distribution Of Materials

Figure 27 Tata Motors Limited: Circular Economy Focus Area

Figure 28 Toyota Motor Corporation: Circular Economy Strategy