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Research Outline
Prepared for francis w. | Delivered December 6, 2019
The North American EV Market
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Goals
To obtain useful insights and trends on the North American electric vehicle market covering the number of charging stations, electric vehicles, EV startups, MaaS, EPA smog levels, and battery cost.
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Early Findings
In 2018, there were
57,187
public electric vehicle charging outlets and
20,021
charging stations in the US.
According to a recent report released by the ICCT, the current charging infrastructure is expected to increase
four folds
by 2025 — totaling
228,000 chargers
. The report went on to state that
100,000
public and workplace chargers will be needed across the top 100 most populous cities in the country.
The U.S. electric vehicle charging infrastructure (EVCI) market size was valued at
USD 1.10 billion
in 2018 and is projected to expand at a CAGR of
39.3%
from 2019 to 2025.
Electric vehicles are expected to
outsell
diesel and gas vehicles in 2039. By 2040,
48.8 million units
of electric cars are expected to be sold annually compared to
42.2 million
gas and diesel cars.
10 million
electric vehicles and
80 million
gas and diesel cars are projected to hit the market by 2025.
According to Reuters, about
250 startups
involved in some aspect of electrification have attracted more than
$20 billion
in venture capital investments to date.
The
top five
investors in electric vehicle startups, according to
CrunchBase
, include the Volkswagen Group, Mistubishi Motors, Audi, Aptiv, and BAIC.
In a recent
paper
published by MIT on the future of mobility, the average cost of a lithium-ion battery pack is expected to drop by almost
50%
between 2018 and 2030, reaching
$124
per kilowatt-hour in 2030.
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