Electric Vehicle Market - Global Electric Vehicle Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032 - (By Product Type, By Propulsion Type, By Range, By Geographic Coverage and By Company)

Description

The global electric vehicle (EV) market is accelerating toward a transformative future, driven by strong policy backing, sustainable mobility goals, and continuous advances in battery technology. As per the latest industry analysis, the market is expected to expand from US$ 723.2 billion in 2025 to US$ 1,870.7 billion by 2032, registering a robust CAGR of 14.5%. Electric vehicles are fast becoming mainstream, reshaping how mobility is defined across the world.

Market Insights

EVs have moved beyond early adoption, with global sales reaching nearly 14 million units in 2023-a 35% increase over the previous year. China, Europe, and the U.S. led this surge, collectively accounting for 95% of sales. Passenger electric vehicles contributed over 66% of total EV sales in 2025, reflecting the rapid shift in consumer demand toward clean, efficient, and smart transportation.

Battery Electric Vehicles (BEVs), known for their zero emissions and lower total cost of ownership, are projected to account for around 45% of the market by 2025. Backed by strategic industry shifts and favorable regulatory landscapes, the EV market is poised for sustained expansion through 2032.

Key Market Drivers

1. Policy Incentives & Regulatory Push

Government subsidies, tax exemptions, and ZEV (Zero Emission Vehicle) mandates are narrowing the cost gap between EVs and conventional internal combustion engine (ICE) vehicles. Over 85% of global vehicle sales are now covered by stringent CO2 and fuel economy standards.

2. Lower Operating Costs

EVs cost significantly less to operate and maintain than gasoline vehicles, with electricity being cheaper and maintenance needs reduced due to fewer moving parts.

3. Expanding Infrastructure

Investments in fast-charging infrastructure, EV-ready buildings, and urban EV zones are eliminating range anxiety and boosting user convenience.

4. Technology Advancements

Continued innovation in lithium-ion batteries, vehicle design, and autonomous systems is making EVs more practical and cost-effective for everyday use.

Business Opportunities

Battery Manufacturing: As battery costs drop, investments in domestic and high-density battery production are becoming critical.
Commercial EV Segment: Fuel Cell Electric Vehicles (FCEVs) are gaining popularity in heavy-duty transport due to long range and fast refueling.
Emerging Markets: Countries like India, Indonesia, and Brazil are presenting vast potential as infrastructure improves and local EV manufacturing scales up.

Regional Outlook

Asia Pacific

Asia Pacific remains the global leader, accounting for over 60% of EV market share in 2025, spearheaded by China. In 2024 alone, China sold over 11 million EVs-more than the rest of the world combined in 2022.

Europe

Europe's EV market rebounded strongly in early 2025, with BEVs and PHEVs making up over 26% of new vehicle registrations. BEV adoption rose by 26% year-over-year in April 2025 alone.

North America

The U.S. market continues to grow, supported by the Inflation Reduction Act (IRA), which offers generous EV tax credits and promotes local manufacturing. While Tesla remains a market leader, its dominance is slipping as Hyundai-Kia, GM, and Ford increase EV production. Leasing incentives and price drops have also played a crucial role in consumer adoption.

Competitive Landscape

Notable Companies

Tesla, BYD, Volkswagen Group, Hyundai Motor Group, BMW Group, Mercedes-Benz, General Motors
XPeng, NIO, Li Auto, Tata Motors, Hero Electric, Ola Electric, Rivian, Lucid Motors, Gogoro

Recent Developments

TATA.ev launched 10 high-capacity MegaChargers across major Indian highways in May 2025.
Mercedes-Benz announced its first EV charging hub in North America, with 2,500 charging points planned by 2030.
CATL unveiled the Freevoy hybrid battery with over 400 km range and 4C ultra-fast charging.
Belrise Industries and Kinetic Group expanded battery and EV component manufacturing in India.
Gulf Oil acquired a 51% stake in Tirex Chargers to strengthen EV infrastructure.

Challenges

Despite rapid momentum, the market faces key roadblocks:

Upfront Costs: EVs remain more expensive at purchase than ICE vehicles, especially in markets with low incentives.
Charging Infrastructure: Public fast-charging remains inadequate, especially in rural areas, creating range anxiety and limiting growth.

Global Electric Vehicle Market Segmentation

By Product Type

Scooters
Motorcycles
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles

By Propulsion Type

Battery Electric Vehicles (BEV)
Hybrid Electric Vehicles (HEV)
Plug-in Hybrid Electric Vehicles (PHEV)
Fuel Cell Electric Vehicles (FCEV)

By Range

Up to 150 Km
151 to 300 Km
301 to 500 Km
Above 500 Km

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

1. Executive Summary

1.1. Global Electric Vehicle Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2025
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. COVID-19 Impact Analysis
2.5. Porter's Five Forces Analysis
2.6. Impact of Russia-Ukraine Conflict
2.7. PESTLE Analysis
2.8. Regulatory Analysis
2.9. Price Trend Analysis
- 2.9.1. Current Prices and Future Projections, 2025-2032
- 2.9.2. Price Impact Factors

3. Global Electric Vehicle Market Outlook, 2019-2032

3.1. Global Electric Vehicle Market Outlook, by Product Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 3.1.1. Scooters
- 3.1.2. Motorcycles
- 3.1.3. Passenger Vehicle
- 3.1.4. Light Commercial Vehicle
- 3.1.5. Heavy Commercial Vehicle
3.2. Global Electric Vehicle Market Outlook, by Propulsion Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 3.2.1. Battery Electric Vehicles (BEV)
- 3.2.2. Hybrid Electric Vehicle (HEV)
- 3.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
3.3. Global Electric Vehicle Market Outlook, by Range, Value (US$ Bn) & Volume (Units), 2019-2032
- 3.3.1. Up to 150 Km
- 3.3.2. 151 to 300 Km
- 3.3.3. 301 to 500 Km
- 3.3.4. Above 500 Km
3.4. Global Electric Vehicle Market Outlook, by Region, Value (US$ Bn) & Volume (Units), 2019-2032
- 3.4.1. North America
- 3.4.2. Europe
- 3.4.3. Asia Pacific
- 3.4.4. Latin America
- 3.4.5. Middle East & Africa

4. North America Electric Vehicle Market Outlook, 2019-2032

4.1. North America Electric Vehicle Market Outlook, by Product Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 4.1.1. Scooters
- 4.1.2. Motorcycles
- 4.1.3. Passenger Vehicle
- 4.1.4. Light Commercial Vehicle
- 4.1.5. Heavy Commercial Vehicle
4.2. North America Electric Vehicle Market Outlook, by Propulsion Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 4.2.1. Battery Electric Vehicles (BEV)
- 4.2.2. Hybrid Electric Vehicle (HEV)
- 4.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
4.3. North America Electric Vehicle Market Outlook, by Range, Value (US$ Bn) & Volume (Units), 2019-2032
- 4.3.1. Up to 150 Km
- 4.3.2. 151 to 300 Km
- 4.3.3. 301 to 500 Km
- 4.3.4. Above 500 Km
4.4. North America Electric Vehicle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019-2032
- 4.4.1. U.S. Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 4.4.2. U.S. Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 4.4.3. U.S. Electric Vehicle Market Outlook, by Range, 2019-2032
- 4.4.4. Canada Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 4.4.5. Canada Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 4.4.6. Canada Electric Vehicle Market Outlook, by Range, 2019-2032
4.5. BPS Analysis/Market Attractiveness Analysis

5. Europe Electric Vehicle Market Outlook, 2019-2032

5.1. Europe Electric Vehicle Market Outlook, by Product Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 5.1.1. Scooters
- 5.1.2. Motorcycles
- 5.1.3. Passenger Vehicle
- 5.1.4. Light Commercial Vehicle
- 5.1.5. Heavy Commercial Vehicle
5.2. Europe Electric Vehicle Market Outlook, by Propulsion Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 5.2.1. Battery Electric Vehicles (BEV)
- 5.2.2. Hybrid Electric Vehicle (HEV)
- 5.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
5.3. Europe Electric Vehicle Market Outlook, by Range, Value (US$ Bn) & Volume (Units), 2019-2032
- 5.3.1. Up to 150 Km
- 5.3.2. 151 to 300 Km
- 5.3.3. 301 to 500 Km
- 5.3.4. Above 500 Km
5.4. Europe Electric Vehicle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019-2032
- 5.4.1. Germany Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.2. Germany Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.3. Germany Electric Vehicle Market Outlook, by Range, 2019-2032
- 5.4.4. Italy Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.5. Italy Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.6. Italy Electric Vehicle Market Outlook, by Range, 2019-2032
- 5.4.7. France Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.8. France Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.9. France Electric Vehicle Market Outlook, by Range, 2019-2032
- 5.4.10. U.K. Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.11. U.K. Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.12. U.K. Electric Vehicle Market Outlook, by Range, 2019-2032
- 5.4.13. Spain Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.14. Spain Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.15. Spain Electric Vehicle Market Outlook, by Range, 2019-2032
- 5.4.16. Russia Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.17. Russia Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.18. Russia Electric Vehicle Market Outlook, by Range, 2019-2032
- 5.4.19. Rest of Europe Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 5.4.20. Rest of Europe Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 5.4.21. Rest of Europe Electric Vehicle Market Outlook, by Range, 2019-2032
5.5. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Electric Vehicle Market Outlook, 2019-2032

6.1. Asia Pacific Electric Vehicle Market Outlook, by Product Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 6.1.1. Scooters
- 6.1.2. Motorcycles
- 6.1.3. Passenger Vehicle
- 6.1.4. Light Commercial Vehicle
- 6.1.5. Heavy Commercial Vehicle
6.2. Asia Pacific Electric Vehicle Market Outlook, by Propulsion Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 6.2.1. Battery Electric Vehicles (BEV)
- 6.2.2. Hybrid Electric Vehicle (HEV)
- 6.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
6.3. Asia Pacific Electric Vehicle Market Outlook, by Range, Value (US$ Bn) & Volume (Units), 2019-2032
- 6.3.1. Up to 150 Km
- 6.3.2. 151 to 300 Km
- 6.3.3. 301 to 500 Km
- 6.3.4. Above 500 Km
6.4. Asia Pacific Electric Vehicle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019-2032
- 6.4.1. China Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 6.4.2. China Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 6.4.3. China Electric Vehicle Market Outlook, by Range, 2019-2032
- 6.4.4. Japan Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 6.4.5. Japan Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 6.4.6. Japan Electric Vehicle Market Outlook, by Range, 2019-2032
- 6.4.7. South Korea Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 6.4.8. South Korea Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 6.4.9. South Korea Electric Vehicle Market Outlook, by Range, 2019-2032
- 6.4.10. India Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 6.4.11. India Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 6.4.12. India Electric Vehicle Market Outlook, by Range, 2019-2032
- 6.4.13. Southeast Asia Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 6.4.14. Southeast Asia Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 6.4.15. Southeast Asia Electric Vehicle Market Outlook, by Range, 2019-2032
- 6.4.16. Rest of SAO Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 6.4.17. Rest of SAO Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 6.4.18. Rest of SAO Electric Vehicle Market Outlook, by Range, 2019-2032
6.5. BPS Analysis/Market Attractiveness Analysis

7. Latin America Electric Vehicle Market Outlook, 2019-2032

7.1. Latin America Electric Vehicle Market Outlook, by Product Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 7.1.1. Scooters
- 7.1.2. Motorcycles
- 7.1.3. Passenger Vehicle
- 7.1.4. Light Commercial Vehicle
- 7.1.5. Heavy Commercial Vehicle
7.2. Latin America Electric Vehicle Market Outlook, by Propulsion Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 7.2.1. Battery Electric Vehicles (BEV)
- 7.2.2. Hybrid Electric Vehicle (HEV)
- 7.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
7.3. Latin America Electric Vehicle Market Outlook, by Range, Value (US$ Bn) & Volume (Units), 2019-2032
- 7.3.1. Up to 150 Km
- 7.3.2. 151 to 300 Km
- 7.3.3. 301 to 500 Km
- 7.3.4. Above 500 Km
7.4. Latin America Electric Vehicle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019-2032
- 7.4.1. Brazil Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 7.4.2. Brazil Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 7.4.3. Brazil Electric Vehicle Market Outlook, by Range, 2019-2032
- 7.4.4. Mexico Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 7.4.5. Mexico Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 7.4.6. Mexico Electric Vehicle Market Outlook, by Range, 2019-2032
- 7.4.7. Argentina Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 7.4.8. Argentina Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 7.4.9. Argentina Electric Vehicle Market Outlook, by Range, 2019-2032
- 7.4.10. Rest of LATAM Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 7.4.11. Rest of LATAM Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 7.4.12. Rest of LATAM Electric Vehicle Market Outlook, by Range, 2019-2032
7.5. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Electric Vehicle Market Outlook, 2019-2032

8.1. Middle East & Africa Electric Vehicle Market Outlook, by Product Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 8.1.1. Scooters
- 8.1.2. Motorcycles
- 8.1.3. Passenger Vehicle
- 8.1.4. Light Commercial Vehicle
- 8.1.5. Heavy Commercial Vehicle
8.2. Middle East & Africa Electric Vehicle Market Outlook, by Propulsion Type, Value (US$ Bn) & Volume (Units), 2019-2032
- 8.2.1. Battery Electric Vehicles (BEV)
- 8.2.2. Hybrid Electric Vehicle (HEV)
- 8.2.3. Plug-in Hybrid Electric Vehicle (PHEV)
8.3. Middle East & Africa Electric Vehicle Market Outlook, by Range, Value (US$ Bn) & Volume (Units), 2019-2032
- 8.3.1. Up to 150 Km
- 8.3.2. 151 to 300 Km
- 8.3.3. 301 to 500 Km
- 8.3.4. Above 500 Km
8.4. Middle East & Africa Electric Vehicle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019-2032
- 8.4.1. GCC Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 8.4.2. GCC Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 8.4.3. GCC Electric Vehicle Market Outlook, by Range, 2019-2032
- 8.4.4. South Africa Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 8.4.5. South Africa Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 8.4.6. South Africa Electric Vehicle Market Outlook, by Range, 2019-2032
- 8.4.7. Egypt Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 8.4.8. Egypt Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 8.4.9. Egypt Electric Vehicle Market Outlook, by Range, 2019-2032
- 8.4.10. Nigeria Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 8.4.11. Nigeria Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 8.4.12. Nigeria Electric Vehicle Market Outlook, by Range, 2019-2032
- 8.4.13. Rest of Middle East Electric Vehicle Market Outlook, by Product Type, 2019-2032
- 8.4.14. Rest of Middle East Electric Vehicle Market Outlook, by Propulsion Type, 2019-2032
- 8.4.15. Rest of Middle East Electric Vehicle Market Outlook, by Range, 2019-2032
8.5. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Vs Segment Heatmap
9.2. Company Market Share Analysis, 2025
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Tesla
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Developments
- 9.4.2. BYD
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Developments
- 9.4.3. Volkswagen Group
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Developments
- 9.4.4. BMW Group
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Developments
- 9.4.5. Hyundai Motor Group
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Developments
- 9.4.6. General Motors (GM)
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Developments
- 9.4.7. Mercedes-Benz Group
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Developments
- 9.4.8. Stellantis
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Developments
- 9.4.9. Renault Group
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Product Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Developments
- 9.4.10. SAIC Motor
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Product Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Developments
- 9.4.11. Geely Auto
  - 9.4.11.1. Company Overview
  - 9.4.11.2. Product Portfolio
  - 9.4.11.3. Financial Overview
  - 9.4.11.4. Business Strategies and Developments
- 9.4.12. NIO
  - 9.4.12.1. Company Overview
  - 9.4.12.2. Product Portfolio
  - 9.4.12.3. Financial Overview
  - 9.4.12.4. Business Strategies and Developments
- 9.4.13. XPeng Motors
  - 9.4.13.1. Company Overview
  - 9.4.13.2. Product Portfolio
  - 9.4.13.3. Financial Overview
  - 9.4.13.4. Business Strategies and Developments
- 9.4.14. Li AutoHonda Motor Co.
  - 9.4.14.1. Company Overview
  - 9.4.14.2. Product Portfolio
  - 9.4.14.3. Financial Overview
  - 9.4.14.4. Business Strategies and Developments
- 9.4.15. VinFast
  - 9.4.15.1. Company Overview
  - 9.4.15.2. Product Portfolio
  - 9.4.15.3. Financial Overview
  - 9.4.15.4. Business Strategies and Developments
- 9.4.16. Lucid Motors
  - 9.4.16.1. Company Overview
  - 9.4.16.2. Product Portfolio
  - 9.4.16.3. Financial Overview
  - 9.4.16.4. Business Strategies and Developments
- 9.4.17. Rivian Automotive
  - 9.4.17.1. Company Overview
  - 9.4.17.2. Product Portfolio
  - 9.4.17.3. Financial Overview
  - 9.4.17.4. Business Strategies and Developments
- 9.4.18. Tata Motors
  - 9.4.18.1. Company Overview
  - 9.4.18.2. Product Portfolio
  - 9.4.18.3. Financial Overview
  - 9.4.18.4. Business Strategies and Developments
- 9.4.19. Yadea Group
  - 9.4.19.1. Company Overview
  - 9.4.19.2. Product Portfolio
  - 9.4.19.3. Financial Overview
  - 9.4.19.4. Business Strategies and Developments
- 9.4.20. AIMA Technology
  - 9.4.20.1. Company Overview
  - 9.4.20.2. Product Portfolio
  - 9.4.20.3. Financial Overview
  - 9.4.20.4. Business Strategies and Developments
- 9.4.21. NIU Technologies
  - 9.4.21.1. Company Overview
  - 9.4.21.2. Product Portfolio
  - 9.4.21.3. Financial Overview
  - 9.4.21.4. Business Strategies and Developments
- 9.4.22. Ola Electric
  - 9.4.22.1. Company Overview
  - 9.4.22.2. Product Portfolio
  - 9.4.22.3. Financial Overview
  - 9.4.22.4. Business Strategies and Developments
- 9.4.23. Hero Electric
  - 9.4.23.1. Company Overview
  - 9.4.23.2. Product Portfolio
  - 9.4.23.3. Financial Overview
  - 9.4.23.4. Business Strategies and Developments
- 9.4.24. TVS Motor Company
  - 9.4.24.1. Company Overview
  - 9.4.24.2. Product Portfolio
  - 9.4.24.3. Financial Overview
  - 9.4.24.4. Business Strategies and Developments
- 9.4.25. Gogoro
  - 9.4.25.1. Company Overview
  - 9.4.25.2. Product Portfolio
  - 9.4.25.3. Financial Overview
  - 9.4.25.4. Business Strategies and Developments
- 9.4.26. Ather Energy
  - 9.4.26.1. Company Overview
  - 9.4.26.2. Product Portfolio
  - 9.4.26.3. Financial Overview
  - 9.4.26.4. Business Strategies and Developments
- 9.4.27. Horwin
  - 9.4.27.1. Company Overview
  - 9.4.27.2. Product Portfolio
  - 9.4.27.3. Financial Overview
  - 9.4.27.4. Business Strategies and Developments
- 9.4.28. Super Soco (Vmoto)
  - 9.4.28.1. Company Overview
  - 9.4.28.2. Product Portfolio
  - 9.4.28.3. Financial Overview
  - 9.4.28.4. Business Strategies and Developments
- 9.4.29. Toyota Motor Corporation
  - 9.4.29.1. Company Overview
  - 9.4.29.2. Product Portfolio
  - 9.4.29.3. Financial Overview
  - 9.4.29.4. Business Strategies and Developments

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations