This blog is based on the recent Frost & Sullivan analysis, Global Electric Car Market Outlook, 2025, authored by Prajyot Sathe, Associate Director at Frost & Sullivan.
At the recently concluded Entrepreneur’s EV Show 2025 in Chennai, over two packed days, visionaries from across the electric mobility ecosystem converged to capture the trajectory of one of the most transformative industries of our time.
From infrastructure innovation and last-mile policy shifts to battery materials and supply chain redesign, the summit addressed every layer of the electric vehicle (EV) value chain. And amid the showcase, Frost & Sullivan took the stage to launch its much-anticipated growth analysis:
Want perspectives from growth experts?
Frost & Sullivan’s latest analysis, Global Electric Car Industry Growth Opportunities, 2025, dives into the best practices, strategic imperatives, key megatrends, and more impacting the global EV sphere.
Transformative Megatrends in the Indian Electric Vehicle Market – 2025 & Beyond
The launch was much more than a growth-analysis reveal. Research Director Prajyot Sathe, during his address, stated, “India’s EV sales could surpass 700,000 units annually by 2030 — but only if local supply chains, battery tech, and charging infrastructure scale at the same pace as vehicles.”
The latest study addresses these very challenges, establishing itself as the go-to guide for success-driven EV businesses. Some of the key questions we answer include:
- Where should your organization invest next?
- What best practices are redefining success?
- Which growth opportunities must OEMs activate to lead in 2025 and beyond?
Read on to discover highlights from our deep-dive into not just India’s role in the EV ecosystem, but other major automotive regions as well.
Global Transformations with Regional Implications
According to our analysis:
- 7 million EVs were sold in 2024, a solid 25% year-on-year growth.
- Battery electric vehicles (BEVs) made up 63% of that volume; plug-in hybrid electric vehicles (PHEVs) rose to 37%.
- Asia-Pacific led with 23% EV penetration in the light-duty vehicle segment.
- BYD and Tesla continue to dominate, but aggressive cost and innovation moves from Stellantis, Kia, and VW are closing the gap.
This year, in fact, EV sales are likely to hit 20–21 million units globally.
But here’s the nuance that matters for growth leaders:
With government incentives shrinking, pricing parity with internal combustion engine (ICE) vehicles is now the battleground, especially in emerging automotive regions like India.
Are you revising your growth strategy to match this ‘new normal’ and dominate the value chain?
To explore these shifts in-depth, download our full growth analysis here.
What Will Define the Winners? Strategic Imperatives That Matter
The analysis outlines the imperatives growth leaders are internalizing to stay ahead of this complex transformation:
Disruptive Technologies
New chemistries — sodium-ion, lithium-sulfur, solid-state batteries — are moving from lab to market.
OEMs are prioritizing Battery-as-a-Service models and deepening investment in internal battery R&D and manufacturing.
Internal Challenges
OEMs are rethinking electrification strategies as subsidies dry up and competition with Chinese players intensifies. Affordability is becoming a central theme, especially in emerging regions where pricing could determine EV vs Internal Combustion Engine (ICE) uptake.
Geopolitical Chaos
The EV industry is undergoing real-world corrections. Governments are shifting support from consumers to manufacturers. OEMs are, thus, aligning with regional realities, redesigning pricing models, and localizing production milestones.
Are your leveraging strategic imperatives leading competitors are adopting to innovate and grow in the EV industry?
Key Growth Opportunities Identified
Our analysis outlines a high-impact opportunity worth $1 billion+ globally, with an impressive 5-year timeline:
Aligning with Shifting EV Consumer Preferences
- Revising EV strategies to suit incentive-light, price-sensitive regions
- Localizing battery and component manufacturing
- Prioritizing affordability without compromising range or performance
Emerging automotive countries like India, Brazil, and China, are perfectly positioned to lead here, but only if OEMs reconfigure fast.
Companies to Action: Leaders and Best Practices
Our analysis also captures industry stakeholders redefining competitiveness through decisive transformation:
- Stellantis: The automotive giant leads cost efficiency by renegotiating supplier contracts and automating production lines.
- Toyota: The Japanese OEM aims to achieve a 50% zero-emission fleet by 2030, harnessing hybrid technologies.
- BYD: China’s BYD — the world’s largest EV manufacturer by sales — will retain its leadership, especially in China where it is expected to sell over 4.5 million units in 2025.
Are you leveraging competitive benchmarking against these ecosystem disruptors? Are you identifying growth gaps and opportunities industry leaders are overlooking?
Get actionable OEM benchmarking in the full Frost & Sullivan growth analysis here.
Your Next Steps: Partner with Frost & Sullivan
Entrepreneur’s EV Show 2025 confirmed one thing: India isn’t catching up to the EV revolution, it’s ready to lead it.
But leadership requires precision. It demands strategic expertise, real-world growth opportunity mapping, and accurate decision-making. Frost & Sullivan helps you achieve your goals by presenting:
- Growth Opportunity Analysis Tailored to Your Needs
- Value Chain Evaluation
- Strategic Imperative Frameworks
- Leading Industry Best Practices
Get started today! You can also directly engage with our experts in an exclusive Growth Pipeline Dialog.
