SMART ELECTRIC DRIVE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Smart Electric Drive Market, By Vehicle Type (Passenger and Commercial Vehicles), By Electric Drive (Hybrid Ev, Plug-In Hybrid EV, Battery EV, and Fuel Cell Ev), By Component (Battery, Motor, Inverter System, E-Brake Booster, and Power Electronics), By Drive Type (Front Wheel Drive , Rear Wheel Drive, and All-Wheel Drive), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

In September 2023, ZF successfully created a magnet-free electric motor, showing its strong commitment to making e-drives more efficient and eco-friendlier. This motor, without magnets, marks a significant step towards improving efficiency in the industry.
In August 2023, BorgWarner joined forces with a major Chinea-based OEM to offer an advanced integrated drive module (iDM). This technology from BorgWarner is aimed at making hybrid driving better overall.
In April 2021, Toyota in Japan showcased its latest LS and Mirai vehicles, featuring state-of-the-art driving assistance technology. In 2020, Daikin introduced the "Carrime" portable air conditioner through its Daikin Launch X innovation platform.
In April 2021, Volkswagen unveiled the seven-seater EV ID.6 Crozz and ID.6 X, developed in partnership with FAW and SAIC in China. These vehicles are exclusively available in China and come with four different powertrain options and two battery sizes—58 kWh and 77 kWh.