ELECTRIC VEHICLE TRANSMISSION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In March 2024, Subaru Corporation, a prominent Japan-based automaker known for its all-wheel-drive vehicles, signed a contract with Aisin Corporation, a leading global supplier of automotive components, to jointly develop and share production of eAxles for use in battery electric vehicles (BEVs). This partnership aims to leverage both companies' expertise in vehicle and transmission development as Subaru prepares to begin BEV production in 2020.  The partnership focuses on creating high-efficiency, lightweight, and compact eAxles that meet the performance needs of modern electric vehicles.
• In March 2024, a leading automotive technology company announced the start of volume production of new 800V powertrain systems for electric vehicles at its facility in Hildesheim, Germany. This innovative powertrain features oil-cooled i-pin bar motor technology combined with silicon carbide (SiC) power devices, delivering up to 35% t more power density for electric motors. This advancement underscores the company's commitment to enhancing the performance and efficiency of electric vehicle systems.
• In May 2023, Bosch, a global leader in technology and services, announced the development of advanced machinery, equipment, and software to address the growing demand for batteries and the recycling of essential raw materials such as lithium, cobalt, and nickel. This initiative reflects Bosch's commitment to sustainability and innovation in the battery supply chain, aiming to enhance the efficiency and effectiveness of battery production and recycling processes.
• In April 2022, BluE Nexus Corporation, a joint venture between AISIN Corporation and DENSO Corporation to develop and sell electric systems and driving modules, signed an agreement with its parent companies to jointly develop an eAxle for Toyota's new battery electric vehicle (BEV), the bZ4X, scheduled for release on May 12, 2022. BluE Nexus's first eAxle, which integrates a motor, inverter, and transaxle, has achieved excellent dynamic performance and downsizing, helping the bZ4X increase its electric mileage. This collaboration leverages the strengths of AISIN, DENSO and Toyota in electrification to further develop and popularize electric vehicles, contributing to a carbon neutral society.