EVOLUTION OF THE GLOBAL BEV CAR MARKET

This thread provides some high level perspective on the evolution and current status of the Global BEV Car market

The primary data is sourced from EIA and covers the BEV Car market but does not include Light Commercial Vehicles LCV

2019 was basically a consolidation and regrouping year in preparation for new growth, especially in China and Europe

The U.S. market lacked competition and federal policy support to stimulate the transition to more efficient clean energy vehicles

China has been the biggest BEV market for some years

China started taking over that leadership role in 2014

- and has massively increased its position since then

Japan has completely squandered an early lead

And the U.S. is batting below its weight notwithstanding Tesla’s efforts

The Global BEV Car fleet has been growing exponentially and we can expect it to already be well north of 6 million vehicles in 2020

Not surprisingly, China is home to the greatest number of BEV cars along with its leadership in electrification of buses

We can expect continued strength in the growth of China’s BEV fleet

And perhaps Europe will start to show good progress as its new regulations start to have a meaningful effect

This suggests that the U.S. will start to get further left behind

On the other hand, the growth of Tesla’s fleet has been exceeding the growth of the Global BEV Car Fleet for the last nine years

And its share of the Global BEV Car Fleet has been steadily growing to reach nearly 20% of all BEV Cars on the road as of 2019

This is in line with our expectations of a long-term 20% Market Share position for Tesla