VEHICLE ELECTRIFICATION MARKET ANALYSIS

Vehicle Electrification Market, By Product Type (Start/Stop System, Electric Power Steering (EPS), Electric Air-Conditioner Compressor, Electric Vacuum Pump, Electric Oil Pump, Electric Water Pump, Liquid Heater PTC, Integrated Starter Generator, Starter Motor, Alternator, Actuator), By End-Use (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle, Micro-Hybrid Vehicle & Internal Combustion Engine), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024
Code : CMI1144
Pages :177
Formats :
Excel and PDF
Industry : Automotive and Transportation

Key Developments

In April 2022, BMW which is a German multinational manufacturer of luxury vehicles expressed a strong commitment to electric vehicles (EVs) by setting a goal to make 50% of its total sales EVs by 2030. The automaker also launched two electric models, the BMW i4 and iX, emphasizing enhanced performance and longer driving ranges. This move reflects BMW's dedication to sustainable mobility solutions.
Also in April 2022, BYD Motors a manufacturer of electric vehicles, introduced ECC32 advanced battery electric forklift, weighing 7,000 pounds. Notable for its innovative design eliminating charge restrictions, this forklift enhances the landscape of electric forklift options.
In June 2021, XL Fleet Corp., known for fleet electrification solutions, collaborated with Rubicon, a smart waste and recycling solutions platform. XL Fleet's solutions were made available to Rubicon’s waste and recycling hauling partners, contributing to sustainable operations and innovative waste management solutions.
In June 2021, Ford an American multinational automobile manufacturer, acquired Electriphi, a California-based company offering charging management and fleet monitoring software for electric vehicles. Electriphi's team and services were integrated into "Ford Pro."
In February 2021, Ford an American multinational automobile manufacturer announced plans to fully phase out fossil fuel-powered vehicle manufacturing in its European division, aiming to offer only plug-in hybrid and electric models by 2026.