Analyst Insight: Emerging EV Business Models

The EV Sales and Specifications Tracker 2Q23 is the first edition of this report from Guidehouse Insights covering the specifications and sales of two light duty EV (LDEV) powertrains—battery EVs (BEVs) and plug-in hybrid EVs (PHEVs)—across three principal geographies since 2011. The Tracker lists over 450 LDEVs, with accompanying weighted sales data, launch year, OEM information, battery size, motor output, and segment. Its purpose is to provide the best up-to-date summary of LDEVs produced globally, highlighting key trends across regional markets, body types, consumer segments, and powertrain technologies.

This accompanying Analyst Insight maps emerging business models related to LDEV sales in specific regional markets around the world. The number of BEVs and PHEVs offered by OEMs continues to increase, particularly as individuals, businesses, and governments recognize the importance of decarbonizing the roads. EV adoption is also being facilitated by direct-to-consumer business models. OEMs are increasingly selling directly to consumers, offering consumers easier access to their products through online ordering. In addition, new concepts in vehicle and battery ownership are emerging. Some markets are offering batteries as a service and battery swap solutions, eliminating concerns over battery longevity and reducing the need for consumers to deal with charging their vehicle. Additional topics covered in this report include EV trends, drivers, and barriers; a regional market overview of EV sales; case studies illustrating regional EV business models; deep dives into two direct-to-consumer business models; an overview of batteries as a service; and analyst conclusions and recommendations.