DELRAY BEACH, FLorida β The global production of electric vehicles (EVs) is projected to rise significantly, increasing from 15.7 million units in 2024 to 46.3 million units by 2035, according to a recent report. This growth, averaging 10.3% annually, is driven by advancements in technology, environmental initiatives, and increasing demand for electric cars and trucks.
Car manufacturers are finding ways to streamline production by using shared designs that allow multiple vehicle models to be built on the same assembly system. This method lowers costs and speeds up production. New technologies like automated assembly and digital simulations are also improving efficiency and product quality.
Sustainability efforts are reshaping how EVs are made. Companies are focusing on using clean energy to power factories, recycling materials, and creating local supply chains to reduce environmental impact.
Electric commercial vehicles, including trucks, vans, and buses, are expected to grow the fastest in the EV market. This increase is driven by stricter emission rules, improved battery technology, and the growing need for cleaner transportation options.
Manufacturers such as Ford, Volvo, and Daimler are developing new electric commercial vehicles to meet these needs. For example, Ford plans to produce an electric van at its Ohio plant starting in 2026. Governments worldwide are also helping by offering financial incentives and expanding charging networks, making it easier for companies to invest in cleaner transportation.
To reduce waste and improve sustainability, automakers are adopting recycling programs and designing vehicles that are easier to take apart and reuse.
In September 2024, BMW partnered with a recycling company to process batteries from electric and hybrid cars in the U.S., aiming to reduce reliance on raw materials and minimize environmental impact.
The Asia-Pacific region, excluding China, is expected to see the fastest growth in EV production. Countries like India, Japan, South Korea, and Thailand are making large investments to support electric vehicle manufacturing:
India: Local companies are producing more affordable EVs.Japan: Offering subsidies to boost battery production.South Korea: Investing heavily in EV technologies to expand global market share.Thailand: Attracting international investments for vehicle assembly and component production.
Major companies leading the EV market include Tesla, BYD, Volkswagen, and Hyundai. These manufacturers are working on new electric models, reducing production emissions, and improving battery technology to meet the growing demand for cleaner vehicles.
Governments and companies alike are focusing on these changes to create a more sustainable and accessible market for electric vehicles. This growth reflects a worldwide push toward cleaner transportation and reduced environmental impact.
