- In July 2020, China increased the expiration date of its NEV subsidy program from 2020 to the end of 2022, despite beginning to reduce base subsidy levels by 10%, 20%, and 30% year (between 2020 and 2022). It also extended the exemption from purchase taxes for NEVs until the end of 2023
- In May 2023, Tesla launched the Model Y Long Range AWD, offering enhanced battery efficiency, advanced autonomous driving features, and an extended driving range. This model is designed to cater to the growing demand for electric vehicles (EVs) with improved performance and sustainability
- In February 2024, Ford unveiled the Mustang Mach-E 2024, a revamped version of their all-electric SUV, featuring enhanced battery technology for longer range, upgraded interiors, and advanced driver-assistance systems. The focus on improved performance, greater energy efficiency, and user-friendly technology reflects the growing shift toward sustainable mobility
- In April 2024, Toyota released the bZ4X 2024, an electric SUV, integrating cutting-edge technology for eco-friendly driving with robust safety features and a focus on charging infrastructure compatibility. This launch aligns with the automaker’s commitment to expanding its EV portfolio and increasing the accessibility of electric mobility
Frequently Asked Questions
Companies such as Ford Motor Company (U.S.), General Motors (U.S.), AUDI AG (Germany), Kia Motors Corporation (South Korea), Groupe Renault (France) are the major companies in the passenger vehicles market.
In May 2023, Tesla launched the Model Y Long Range AWD, offering enhanced battery efficiency, advanced autonomous driving features, and an extended driving range.
The countries covered in the passenger vehicles market are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa.
