{"id":3096,"date":"2024-02-22T03:49:46","date_gmt":"2024-02-21T18:49:46","guid":{"rendered":"https:\/\/turnpoint-consulting.com\/media-mobility\/the-ev-market-from-the-basics-current-trends-in-the-world-and-japan"},"modified":"2025-06-20T19:07:51","modified_gmt":"2025-06-20T10:07:51","slug":"the-ev-market-from-the-basics-current-trends-in-the-world-and-japan","status":"publish","type":"post_mobility","link":"https:\/\/turnpoint-consulting.com\/en\/media-mobility\/the-ev-market-from-the-basics-current-trends-in-the-world-and-japan","title":{"rendered":"The EV Market from the Basics: Current Trends in the World and Japan"},"content":{"rendered":"\n<p>This article focuses on <strong>Electricity<\/strong>, one of the <strong>CASE Revolution\u00b9s<\/strong> facing the automotive industry, and summarizes the <strong>market trends toward<\/strong><strong>electrification<\/strong> and <strong>the current status of electric vehicles<\/strong> worldwide and in Japan, based on data.<\/p>\n\n<p>It is no exaggeration to say that electric vehicles are the topic that attracts the most attention in the industry, both domestically and internationally, as a means of reducing greenhouse gas emissions and becoming carbon neutral*\u00b2. However, because of this, a great deal of information is flying around,<\/p>\n\n<p>It&#8217;s hard to get organized to understand what&#8217;s going on.&#8221;<\/p>\n\n<p>I am sure that this is the case.<\/p>\n\n<p>\u3000In this article, after reviewing the types and definitions of electric vehicles, we will follow the trends around the world and the situation in Japan with the latest data. Therefore,<\/p>\n\n<ul class=\"wp-block-list\">\n<li><em>I would like to review the basics as a trend within the automotive industry.<\/em><\/li>\n\n\n\n<li><em>I want to keep up with the latest trends as a preliminary knowledge before going for an interview.<\/em><\/li>\n<\/ul>\n\n<p>We hope to respond to this desire.<\/p>\n\n<p>\u00b9 CASE Revolution = A term coined from the initial letters of Connected, Autonomous\/Automated, Shared\/Services, and Electric, indicating technological innovations that will significantly change the concept of the automobile.<\/p>\n\n<p>\u00b2 Carbon Neutral = A slogan launched by the Japanese government to achieve a decarbonized society with zero carbon dioxide emissions by the year 2050.<\/p>\n\n<h2 class=\"wp-block-heading\">Electric vehicles (HV + BEV + PHEV + PHV)<\/h2>\n\n<p>The following electric vehicles are options for reducing CO2 emissions from automobiles toward achieving carbon neutrality. We will compare the features, advantages and disadvantages of each.<\/p>\n\n<p><strong>(1) HV | Hybrid vehicles<\/strong><\/p>\n\n<p><a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/HV.jpg\"><\/a><\/p>\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/HV.jpg\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/HV-294x257.jpg\" alt=\"Press Release\" title=\"Press Release\"\/><\/a><\/figure>\n\n\n\n<p>It is equipped with a <strong>gasoline engine<\/strong> and an electric motor, with the <strong>gasoline engine<\/strong> providing the main power. <strong>The<\/strong> electric motor is also driven by charging the energy generated during braking as electricity. <br\/><br\/>Examples of car models: Prius (TOYOTA) Serena (NISSAN) Fit (HONDA) <br\/><br\/>\u30fb <strong>Benefits<\/strong>: No need for a charging station because of gasoline. <strong>Fuel economy is high and engines last longer.<\/strong><br\/><strong>Demerit<\/strong>: Not a fully electric vehicle. <strong>Exhaust gas emissions due<\/strong> to the engine.<\/p>\n<\/div>\n\n<p><strong>PHEV | Plug-in Hybrid Vehicle<\/strong><\/p>\n\n<p><a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/PHEV-1.jpg\"><\/a><\/p>\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/PHEV-1.jpg\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/PHEV-1-294x257.jpg\" alt=\"Press Release\" title=\"Press Release\"\/><\/a><\/figure>\n\n\n\n<p>Runs on both electricity and gasoline, <strong>less expensive than<\/strong> EVs, virtually equivalent to EVs in daily use, and <strong>capable of long-distance driving<\/strong>. Can also run on electricity alone or gasoline alone. <br\/><br\/>Model example: Prius PEV (TOYOTA) <br\/><br\/>\u30fb <strong>Benefits<\/strong>: Better environmental performance than HVs. <strong>Fuel economy is good, and the car can run on electricity alone.<\/strong><br\/><strong>Demerit<\/strong>: <strong>High vehicle price.<\/strong><\/p>\n<\/div>\n\n<p><strong>BEV &#8211; Battery EV (Electric Vehicle)  <\/strong><\/p>\n\n<p><a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/BEV-1.jpg\"><\/a><\/p>\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/BEV-1.jpg\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/BEV-1-294x257.jpg\" alt=\"Press Release\" style=\"object-fit:cover\" title=\"Press Release\"\/><\/a><\/figure>\n\n\n\n<p>It is <strong>powered solely by electricity<\/strong> and is characterized by its environmental friendliness. The <strong>battery<\/strong> installed in the vehicle is <strong>charged<\/strong> and the vehicle runs on the electricity. <br\/><br\/>Examples of vehicles: Model S\/ X \/ 3 (TESLA) Leaf (NISSAN) I3 \/i4 (BMW) I-PACE (Jaguar) <br\/><br\/>\u30fb <strong>Merit<\/strong>: <strong>No CO2 emissions.<\/strong><strong>Compared to FCVs, the charging environment is more convenient<\/strong> as it can be recharged at home, etc. <strong>Low running cost<\/strong>. <br\/><strong>Demerit<\/strong>: <strong>High vehicle price. Relatively short cruising range. Takes time to recharge.<\/strong><\/p>\n<\/div>\n\n<p><strong>FCV | Fuel Cell Vehicle<\/strong><\/p>\n\n<p><a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/FCV.jpg\"><\/a><\/p>\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/FCV.jpg\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2022\/05\/FCV-294x257.jpg\" alt=\"Press Release\" title=\"Press Release\"\/><\/a><\/figure>\n\n\n\n<p>It uses <strong>hydrogen in<\/strong> the fuel cell and runs on electricity generated by a chemical reaction with oxygen as energy. <br\/>Like EVs, it does not have an engine, but instead has <strong>a motor<\/strong>. <br\/><br\/>Examples of vehicle models: Nesso (HYUNDAI) Mirai (TOYOTA) <br\/><br\/>\u30fb <strong>Merits<\/strong>: <strong>Relatively long cruising range. Energy efficiency is high, and<\/strong> the car can be operated efficiently even with low output. Only water vapor is generated during operation, which is <strong>good for the environment. Low noise level.<\/strong><br\/><strong>Demerit<\/strong>: <strong>Vehicle price is high<\/strong> due to the high cost of fuel cells. <strong>Difficult to build infrastructure for<\/strong> hydrogen stations <strong>.<\/strong><\/p>\n<\/div>\n\n<h2 class=\"wp-block-heading\">Global Electric Vehicle Market<\/h2>\n\n<p>What is the actual market penetration rate of electric vehicles and what are the trends in the industry? In this issue, we will focus on electric vehicles (EV = BEV + PHEV) in particular, and look at the current situation in overseas markets and Japan within those markets, in this order.<\/p>\n\n<p><strong>Globally<\/strong>, the market <em>continued to grow in<\/em> 2023, with increasing penetration around the world. 2023 data shows a <em>further increase in EV sales<\/em>, reaching <strong>13.6 million units<\/strong>. This figure represents a <strong>35%<\/strong> growth compared to 2022.<\/p>\n\n<p class=\"has-text-align-center\">Vehicle sales and electric vehicle (BEV + PHEV) sales in the global market<a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/Total-Sales-v.s.-EV-Sales-2023-1024x1024.png\"><\/a><\/p>\n\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/Total-Sales-v.s.-EV-Sales-2023-1024x1024.png\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/Total-Sales-v.s.-EV-Sales-2023.png\" alt=\"Number of vehicles sold from 2020 to 2023 and the percentage of electric vehicles sold among them\" title=\"Total Sales v.s. EV Sales 2023\"\/><\/a><figcaption class=\"wp-element-caption\">Reference: Based on data from <a href=\"https:\/\/www.ev-volumes.com\/\" target=\"_blank\" rel=\"noopener\" title=\"\">EV Volume<\/a>, <a href=\"https:\/\/think.ing.com\/articles\/global-car-market-outlook-hitting-speed-bumps\/#a1\" target=\"_blank\" rel=\"noopener\" title=\"\">IEA<\/a>, and <a href=\"https:\/\/jp.reuters.com\/markets\/japan\/funds\/KBOSGNLGXRLINOY3IWWBI4KIU4-2024-01-11\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Low Motion (Reuters)<\/a><\/figcaption><\/figure>\n\n<p>Of particular note is the <strong>Chinese<\/strong> market. <br\/>It is still fresh in our minds that in 2023 China overtook Japan to become <em>the world&#8217;s largest exporter of automobiles<\/em>, and its growing international presence can be attributed to the growth of the Chinese EV market. In China, the category of <em>NEVs (New Energy Vehicles), which<\/em> specifically <em>includes BEVs, PHVs, and FCVs<\/em>, is used, and <em>in 2023, China&#8217;s NEV sales exceeded <strong>9.5 million units<\/strong><strong>, up about 38%<\/strong> from the previous year.<\/em><br\/>The focus on BEVs and PHVs is high, with <em>sales numbers <strong>increasing by about 25% and<\/strong><\/em><em><strong>85%<\/strong><\/em> growth. Chinese automaker BYD continued its dominant sales growth in 2023, ranking among the \u201ctop 10 global automakers in terms of vehicle sales.\u201d<\/p>\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/BYD-export.webp\" alt=\"BYD electric cars are waiting to be loaded onto the &#x201C;BYD Explorer No 1,&#x201D; a vessel intended to export Chinese automobiles, at Yantai port, in eastern China's Shandong province on January 10, 2024.\" title=\"BYD\"\/><figcaption class=\"wp-element-caption\">\u00a9 Getty Images<\/figcaption><\/figure>\n\n<p>The EV market continues to grow in <strong>Europe<\/strong>, especially within the EU, with <em>BEV sales of new vehicles in 2023 <strong>up 37%<\/strong> compared to the previous year<\/em>. <em>Overall new vehicle registrations also <strong>grew by about 14%<\/strong><\/em>, indicating a significant role in the industry&#8217;s growth. <br\/>The growth of the EV market within the EU is being driven by a number of factors, <em>including the response to climate change and the growing demand for sustainable mobility<\/em>. The market is expected to continue to grow, with <em>the market share rate projected to increase from <strong>15%<\/strong> in 2023 to nearly <strong>20% in<\/strong> 2024<\/em>. We should continue to pay close attention to technological developments and policy drivers.<\/p>\n\n<p>Let&#8217;s also take a look at the <strong>U.S.<\/strong> market. According to the latest data, the <em>penetration of EVs in the U.S. has further increased compared to the<\/em> previous year, with <strong>approximately 1.07 million<\/strong> EVs sold in 2023, a <strong>51% increase over<\/strong> the previous year. This shows that interest in EVs is growing even more. <br\/>Although the government is offering tax credits and other incentives for EV purchases, the cost of EVs is still higher than that of HVs, and the cost of <em>HVs<\/em>, including tax credits, is still <em><strong>higher<\/strong><\/em> than that of HVs, Although the government offers tax credits and other incentives for EV purchases, the <em>cost of<\/em> EVs is still <em>relatively higher than that of HVs<\/em>, and the number <em>of charging spots has not kept pace with the spread of<\/em> EVs, which seems to be holding back the spread of EVs even further.<\/p>\n\n<p class=\"has-text-align-center\">Comparison of EV and HV new vehicle sales in the U.S. market<a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/New-Car-Sales-EV-v.s.-HV-in-US-2023-1024x576.png\"><\/a><\/p>\n\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/New-Car-Sales-EV-v.s.-HV-in-US-2023-1024x576.png\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/New-Car-Sales-EV-v.s.-HV-in-US-2023.png\" alt=\"Comparison of EVs and HVs in new vehicle sales in the U.S.\" title=\"New Car Sales EV v.s. HV in US, 2023\"\/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www3.nhk.or.jp\/news\/html\/20240229\/k10014374191000.html\" target=\"_blank\" rel=\"noopener\" title=\"\">Reference: <u>NHK<\/u><\/a><\/figcaption><\/figure>\n\n<p>It will be very interesting to see how EVs will spread in the U.S., where major automakers such as Ford and General Motors, as well as electric car maker Tesla, are concentrated, and what policies the manufacturers will adopt. It can be said that HVs are gaining in popularity, but this is because they are more environmentally friendly than gasoline-powered cars, and consumers are highly concerned about environmental friendliness. This may overlap with global trends in the future, so it is important to watch this trend carefully.<\/p>\n\n<p>The <strong>Indian<\/strong> EV market continues to grow steadily, with the <em>number of new domestic EV registrations in 2023 reaching a record high of <strong>approximately 1.53 million units<\/strong>, a growth of <strong>50%<\/strong> over the previous year<\/em>. The introduction of popularization policies by the Indian government, including subsidy benefits, and the development of battery cell production are driving the market expansion. <br\/>The EV market is also growing remarkably within <strong>ASEAN<\/strong>. Thailand&#8217;s EV market has increased its share within the new vehicle sales market by 2.2 times over the previous year. Indonesia&#8217;s EV market is also growing on the strength of its market size and resource abundance. It should be noted that Indonesia is the world&#8217;s largest nickel producer, and the government is making efforts to produce EV batteries domestically. <br\/>In each of these countries, <em>government-led measures are being taken to promote the use of EV batteries, and manufacturers are following suit with policies that take advantage of the strengths of each country<\/em>, resulting in market expansion.<\/p>\n\n<h2 class=\"wp-block-heading\">Trends in the Japanese Electric Vehicle Market<\/h2>\n\n<p>So far, we have reviewed the status of EV penetration in major markets around the world. Before moving on to the current situation in the Japanese market, let us review the goals set by the Japanese government regarding carbon neutrality, as mentioned at the beginning of this article.<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>2035<\/strong> Achieve 100% electric vehicles in new car sales<\/li>\n\n\n\n<li>Aiming for virtually zero CO\u2082 emissions by <strong>2050<\/strong><\/li>\n<\/ul>\n\n<p>As mentioned above, the government is taking the initiative to expand the market for electric vehicles with the aim of achieving carbon neutrality by 2050. For example, measures are being taken to lower the hurdle for consumers to purchase EVs through the government-led <em>\u201cClean Energy Vehicle Introduction Promotion Subsidy\u201d (CEV subsidy)<\/em>. The government plans to continue these subsidies in the future, which is a clear indication of the government&#8217;s positive attitude toward EVs.<\/p>\n\n<p>As a result, the Japanese EV market <em>continues to grow steadily year after year.<\/em> However, it is <em>still small<\/em> compared to other countries in the world.<\/p>\n\n<p>As in the rest of the world, let&#8217;s look at the numbers first: <em>EV (BEV) sales in Japan in 2023<\/em> were <em><strong>up 50% from<\/strong> the previous year to <strong>about 80,000 units<\/strong><\/em>; <em>when combined with PHEVs,<\/em> the figure is <em><strong>about 140,000 units<\/strong><\/em>, a <em>record high<\/em>.<\/p>\n\n<p>However, the Japanese EV market remains small compared to other countries. Although its share of the overall market increased over the previous year, the <em>reality is<\/em> that it still lags behind other countries at <em><strong>approximately 3.5%<\/strong><\/em>.<\/p>\n\n<p>Various factors influence the process in the diffusion of EVs. Although government subsidy programs exist, measures that are closer to the lives of buyers, such as cost reductions through manufacturers&#8217; efforts and the development of charging infrastructure, will be important for the future diffusion of EVs.<\/p>\n\n<p class=\"has-text-align-center\">Comparison of vehicle sales and electric vehicle (BEV + PHEV) sales in Japan<a href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/Total-car-sales-v.s.-EV-sales-Japan-2023-1024x1024.png\"><\/a><\/p>\n\n<figure class=\"wp-block-image\"><a class=\"qode-prettyphoto qode-single-image-pretty-photo\" href=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/Total-car-sales-v.s.-EV-sales-Japan-2023-1024x1024.png\"><img decoding=\"async\" src=\"https:\/\/turnpoint-consulting.com\/wpdata\/wp-content\/uploads\/2024\/02\/Total-car-sales-v.s.-EV-sales-Japan-2023.png\" alt=\"\" title=\"Total car sales v.s. EV sales Japan 2023\"\/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/blog.evsmart.net\/ev-news\/electric-vehicle-sales-in-japan\/\" target=\"_blank\" rel=\"noopener\" title=\"\">See also: EVsmart Blog<\/a><\/figcaption><\/figure>\n\n<h2 class=\"wp-block-heading\">Finally.<\/h2>\n\n<p>In this issue, we have looked at the topic of electric vehicles, from basic knowledge to market trends in various countries around the world, along with the latest data. As each country promotes the spread of electric vehicles, we hope that you have been able to confirm, on a factual basis, the speed at which the automobile industry and the society surrounding it are changing.<\/p>\n\n<p>However, the situation surrounding the industry <strong>is changing very quickly<\/strong>, as both the government and companies are not giving up on development and dissemination. For a better understanding of the industry situation in the future,<\/p>\n\n<ul class=\"wp-block-list\">\n<li>Trends in Manufacturers of Electric Vehicles<\/li>\n\n\n\n<li>Future changes in the global situation<\/li>\n\n\n\n<li>What challenges do you see for the further spread of electric vehicles in Japan?<\/li>\n\n\n\n<li>Movement of suppliers and infrastructure development\/mobility service companies dealing with electric vehicle-related<\/li>\n<\/ul>\n\n<p>Attention should also be paid to the above topics.<\/p>\n\n<p>Understanding trends in the automotive industry can be very helpful when considering a career change, especially when researching companies and preparing for interviews.<a href=\"https:\/\/turnpoint-consulting.com\/\"><strong> Turnpoint Consulting<\/strong><\/a> Turnpoint Consulting, Inc. is an agency specializing in the automotive industry, providing up-to-date and reliable information on the automotive and mobility job market and selection strategies for job seekers, as well as information on the talent flow in the industry for corporate recruiters.<\/p>\n","protected":false},"featured_media":1772,"template":"","meta":{"_acf_changed":false},"taxonomy_media":[55,18,56,57,14,58,59,60,61,62,63,64,65,66,67],"class_list":["post-3096","post_mobility","type-post_mobility","status-publish","has-post-thumbnail","hentry","taxonomy_media-battery","taxonomy_media-byd","taxonomy_media-case","taxonomy_media-daimler","taxonomy_media-ev","taxonomy_media-gm","taxonomy_media-honda","taxonomy_media-hyundai","taxonomy_media-it","taxonomy_media-nissan","taxonomy_media-stellantis","taxonomy_media-tesla","taxonomy_media-toyota","taxonomy_media-volkswagen","taxonomy_media-67"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/turnpoint-consulting.com\/en\/wp-json\/wp\/v2\/post_mobility\/3096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/turnpoint-consulting.com\/en\/wp-json\/wp\/v2\/post_mobility"}],"about":[{"href":"https:\/\/turnpoint-consulting.com\/en\/wp-json\/wp\/v2\/types\/post_mobility"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/turnpoint-consulting.com\/en\/wp-json\/wp\/v2\/media\/1772"}],"wp:attachment":[{"href":"https:\/\/turnpoint-consulting.com\/en\/wp-json\/wp\/v2\/media?parent=3096"}],"wp:term":[{"taxonomy":"taxonomy_media","embeddable":true,"href":"https:\/\/turnpoint-consulting.com\/en\/wp-json\/wp\/v2\/taxonomy_media?post=3096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}