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Software Defined Vehicle strategy essential for electric vehicle competition.

The global trend is towards decarbonisation and carbon neutrality in both developed and emerging countries.

The global plug-in vehicle market will probably exceed 10 million units in 2022 and expand to around 46 million units in 2030. Comparison of plug-in vehicle product plans, product expansion will continue in the US, Europe and China towards 2030, with a focus on BEVs in the three regions. Electric vehicle market forecast based on regulations, the global BEV/PHEV ratio is expected to exceed 50% by 2035.

US Inflation-Reduction Act (IRA), electric vehicle tax credits will be subject to North American final assembly and component origin ratio requirements. The US State of California (CARB) ACC II calls for 100% of new vehicle sales to be ZEVs (including PHEVs) by 2035; the EU is continuing to deliberate on exceptions for synthetic fuels (eFuel) with a policy of virtually all ZEVs by 2035. Charging infrastructure for electric vehicles is being developed in many countries around the world, but it is not keeping pace with the spread of electric vehicles.

Against this backdrop, regulations on vehicles are also becoming stricter, and are moving towards making BEV sales mandatory by 2035. If forecasts are made in line with the various regulations, the global market for plug-in passenger cars (BEVs, PHEVs and FCEVs) is expected to exceed 45 million units by 2030.

From the standpoint of existing car manufacturers, some of them are finally matching Tesla in their ability to supply plug-in vehicles, but with Chinese manufacturers aiming to expand outside the country as new competitors, securing or expanding market share is not an easy task. Furthermore, the number of people who can afford electric vehicles remains limited due to the lack of factors to reduce vehicle prices, and although the market has grown rapidly, competition for market share will inevitably intensify in the future. Another uncertain factor is whether key components such as batteries can be produced and procured as planned. This section summarises the electric vehicle industry in North America, Europe, China, India and other major Asian countries, and Japan. It continues with a report on electric vehicle sales in key regions and countries, product plans by market, investment plans of automobile companies and capacity plans related to electric vehicles.