The exponentially growing market for electric vehicles (EVs) and the potential revenue yield has seen an increased and diversified participation in this burgeoning market. While this includes established automotive giants like GM and Honda, it is the smaller, technology-focused new entrants that continue to spark the curiosity of EV enthusiasts around the world.
In the past, the internal combustion engine (ICE) was a large entry barrier for becoming a new automaker due to the adeptness and high capital investments needed to develop an ICE engine. With the rise of electric powertrains, the use of electric motors and batteries, that entry barrier has reduced considerably and has opened up the market to new players and new opportunities.
IHS Markit believes that the EV market is not restricted to conventional manufacturers and expects the current disruptions in the automotive world to continue and pave the way for improved trends in technologies and consumer buying patterns.
This report aims to provide an in-depth look at the functioning and growth strategies of some of the most promising names in the EV space today.
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