Latest news with #HybridElectric
Yahoo
2 days ago
- Automotive
- Yahoo
Hyundai's new hybrid – a promising step toward electrification
As Hyundai Group navigates the slowdown in global Electric Vehicle (EV) demand, the company has started to refocus its efforts on its existing xEV technology — the hybrid vehicle — to drive growth. Even Genesis, the group's luxury brand, has shifted from a strategy of full electrification to include hybrid configurations in its product line-up in response to the rising popularity of such vehicles. In 2011, Hyundai introduced its first full hybrid system, known as the 'Transmission Mounted Electrical Device' (TMED), with the Sonata model in Korea. This proprietary series-hybrid system features an electric motor positioned between the engine and transmission — referred to as the P2 configuration — and utilizes a dual-clutch mechanism to manage power distribution. Additionally, this system can operate solely on electric power under certain conditions. Over the past decade, Hyundai has integrated this hybrid system into several of its models. Sales of its Full Hybrid Electric Vehicles (FHEVs) surged from over 222k units in 2020 to more than 770k units in 2024, with an average growth rate of 36% and accounting for approximately 14% of its global Passenger Vehicle (PV) sales. However, Hyundai's hybrid system began to lag in fuel economy and driving performance compared to the latest models from competitors. As a result, in April 2025, the group unveiled its new Full Hybrid powertrain, known as TMED-II, which will debut in the latest Hyundai Palisade. The enhanced hybrid system not only retains the P2 motor at the transmission input but also integrates an additional motor at the engine output, known as the P1 configuration. The group claims that this innovation significantly improves fuel economy over the previous generation. Furthermore, Hyundai plans to incorporate the new hybrid system into three vehicle categories: Large, Midsize, and Compact. The same system architecture is also set to be implemented in the longitudinal powertrains of Genesis models. It is anticipated that the next-generation Hyundai hybrid system will enhance performance and fuel efficiency across various segments. The group asserts that this new hybrid system offers a 45% improvement in fuel economy and a 29% increase in power compared to Internal Combustion Engines (ICEs) of the same category. We expect increased FHEV market penetration in the B and E segments, particularly in the B segment within emerging markets like India, where FHEVs are likely to replace diesel vehicles. Meanwhile, growth in the E segment is expected to be driven by Large SUVs from the Hyundai and Kia brands, as well as Genesis models. By 2030, our projections indicate that the group will expand its FHEV presence to approximately 1.3 mn units worldwide, representing over 21% of its global sales. However, as global demand for EVs rises due to technological advancements and stricter emission regulations, the growth of FHEVs is expected to slow in the latter part of the decade and eventually be surpassed by pure EVs. Nevertheless, FHEVs will continue to play a crucial role in the group's strategy to achieve its goal of full electrification. Kwan Wongwetsawat, Senior Analyst, Global Powertrain, GlobalData This article was first published on GlobalData's dedicated research platform, the . "Hyundai's new hybrid – a promising step toward electrification" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Recorder
3 days ago
- Automotive
- Business Recorder
Master Group partners with China's Chery Automobile
LAHORE: Master Group of Industries, one of Pakistan's most respected and diversified business conglomerates, has officially partnered with Chery Brand, China's No.1 global vehicle exporter, to bring the latest Super Plug-in Hybrid Electric Vehicles (PHEVs) and New Energy Vehicles (NEVs) to Pakistan. With over 60 years of industrial excellence and around 40 years of auto-manufacturing experience, Master Group is investing in a cutting-edge manufacturing facility, world-class 3S Dealership network, and comprehensive after-sales support, led by Master Auto Engineering (a subsidiary of Master Group of Industries) under the leadership of Samir Malik (CEO). This strategic alliance heralds a new era for Pakistan's automotive industry, driven by sustainable mobility, advanced technology, and an elevated customer experience. Copyright Business Recorder, 2025
Yahoo
05-03-2025
- Automotive
- Yahoo
EV Charger Market Poised for Rapid Growth Amid Rising EV Adoption and Sustainability Initiatives
Electric Vehicle Charger Market Analysis by Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle), by Charging Type (On-board Charger, Off-board Charger, Others), by End User (Residential Electric Vehicles, Commercial Electric Vehicles, Other Electric Vehicles), and by Region – Forecast for 2025 to 2035. NEWARK, Del, March 05, 2025 (GLOBE NEWSWIRE) -- The EV charger market is on track for substantial expansion, projected to grow from USD 6.5 billion in 2023 to USD 10.2 billion by 2025, at a CAGR of 26.6%, ultimately reaching USD 72.5 billion by 2035. This impressive growth is fueled by the rising adoption of battery-powered vehicles and the continuous advancement of charging infrastructure. With a growing number of consumers shifting toward electric mobility, the demand for fast, efficient, and widely accessible charging solutions is surging. The market encompasses a range of technologies, from residential charging units to public high-speed DC fast chargers, helping alleviate concerns related to range limitations and charging accessibility. Additionally, government incentives and significant investments in both public and private charging networks are accelerating market expansion. However, challenges remain, including uneven distribution of charging infrastructure, particularly in rural and developing regions, where securing the necessary funding and resources for large-scale deployment is difficult. Another major hurdle is the lack of standardization across charging technologies and EV models, potentially leading to compatibility issues. While ultra-fast charging solutions are in high demand, the industry must focus on establishing universal charging protocols to ensure seamless and user-friendly experiences for EV owners. Get Ahead with Our Report: Request Your Sample Now! The requirement for the use of EVs has been prompted by the growing carbon dioxide footprints and other dangerous substances resulting from conventional mobility. As a result, there is a growing need for EV charging infrastructure in both business and residential settings. Reduction in the size of chargers is the key development that has completely changed the market dynamics for EV charger producers in recent years. These chargers are incredibly simple to import into foreign countries due to their compact size, and 42% of global exports come from the Asian continent. The adoption of recent advancements in enhancing the recharge service business is projected to increase the expanse of charging stations around the world. Federico Calen Company stated that "the interconnection of charging networks is a vital element in the strategy to develop e-mobility in Italy." Such developments are anticipated to encourage the establishment of new EV charger market players, boosting EV charger sales. The all-electric vehicles, such as the BMW i3, Audi e-Tron, Chevrolet Bolt EV, Tesla Model X, and Nissan LEAF, are further increasing market penetration. Additionally, expanding collaborations between automakers to provide charging stations using a paid subscription model is anticipated to fuel industry expansion. The hefty cost of different types of electric vehicles, including electric two-wheelers, unfortunately, could impede market expansion during the forecast years. Additionally, the absence of sufficient EV charging facilities in emerging nations like Brazil, India, and others is anticipated to limit market opportunities. Battery Electric Vehicles Requiring Less Maintenance Than Hybrids Battery Electric Vehicles (BEVs) are becoming the preferred choice for consumers due to their simpler design and lower maintenance requirements compared to hybrid and internal combustion engine (ICE) vehicles. BEVs do not have complex components like an engine, exhaust system, or fuel injectors, reducing wear and tear. Impact on EV Charger Market: As more consumers switch to BEVs, the demand for fast and efficient charging solutions grows. This shift encourages investments in public and private EV charging stations, making charging more accessible. Onboard EV Chargers Compatible with Various Power Sources Onboard chargers are a critical component of EVs, converting AC power from the grid into DC power to charge the battery. Recent advancements have made these chargers more adaptable to various power sources, including solar energy, DC fast chargers, and home power systems. Impact on EV Charger Market: With increased compatibility, EV owners enjoy greater flexibility in charging options, leading to a higher demand for multi-power-source charging stations that can accommodate different vehicles and energy types. says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI). Battery Electric Vehicles (BEV)s Constitute the Leading Segment of the Global EV Charger Market by Vehicle Type Battery electric vehicles or BEVs, which require less maintenance than HEVs and PHEVs, are predicted to keep a high market share during the projected period. Based on different types of electric vehicles, the BEV segment is figured out to be generating 45.8% of the total demand for EV chargers. Hybrid cars are gaining popularity these days as a means of lowering expenditure from the consumption of fossil fuels that could emerge as a key segment. Depending on the kind of charging, the onboard charger segment is anticipated to expand at a faster growth rate over the projection period. It may be due to the preference and benefit of charging electric vehicles using a readily accessible power source at any location. To avoid the possibility of damage, these systems are made according to the unique voltage needs of the battery in different electric vehicles. Commercial EVs are anticipated to account for a sizeable portion of the market based on end-user, by growing adoption of EVs by fleet owners. Compared to residential or personal use electric, commercial vehicles have a far larger market penetration for the EV charger market. Detailed Market Study: Full Report and Analysis! Government Incentives Promoting Electric Vehicle Adoption Governments worldwide are introducing incentives such as tax credits, rebates, and subsidies to encourage both EV purchases and charging infrastructure expansion. Examples of Government Support: The USA Inflation Reduction Act includes incentives for EV buyers and funds for expanding charging networks. The European Union's Green Deal supports widespread EV infrastructure to achieve carbon neutrality by 2050. China has aggressive subsidies and mandates for EVs and chargers. Impact on EV Charger Market: These incentives reduce the cost burden on consumers and businesses, encouraging wider EV adoption and increased investment in charging stations. Sustainable Development Through Alternative Fuel Sources Like EVs The transition to EVs is a key part of global sustainability efforts, as traditional gasoline and diesel vehicles contribute heavily to greenhouse gas emissions. How EV Chargers Help Sustainability: Reduced Carbon Footprint: EV charging stations powered by renewable energy reduce emissions significantly. Lower Air Pollution: Cities implementing EV-based public transport benefit from cleaner air and reduced noise pollution. Efficient Energy Utilization: Smart charging stations optimize energy distribution, ensuring minimal wastage. Impact on EV Charger Market: The push for sustainable transportation is driving new investments in green EV charging solutions, such as solar-powered and wind-powered charging stations. Smart Transportation Systems Integrating EV Charging Solutions Smart transportation refers to the integration of digital technology, AI, and IoT into urban mobility systems, making transportation more efficient, automated, and environmentally friendly. EV charging infrastructure is becoming an essential component of these smart systems. Technologies Enhancing Smart Charging: Connected Charging Stations: Mobile apps and cloud platforms allow users to locate, book, and pay for charging remotely. Vehicle-to-Grid (V2G) Integration: EVs can send excess energy back to the grid, helping balance electricity demand. AI-Driven Energy Management: AI optimizes charging based on energy availability and demand. Impact on EV Charger Market: The integration of EV chargers into smart cities ensures seamless and automated charging experiences, encouraging more users to switch to electric vehicles. Public EV Charging Stations Addressing Range Anxiety Range anxiety—the fear of running out of battery without access to a charger—is one of the biggest concerns for EV adoption. Solutions Reducing Range Anxiety: Expansion of Fast-Charging Networks: Companies and governments are setting up ultra-fast chargers that can charge EVs in 10–30 minutes. Strategic Location Placement: Charging stations are being installed at highways, shopping malls, hotels, and workplaces. Improved Battery Technology: Higher battery capacities and faster charging reduce the need for frequent stops. Impact on EV Charger Market: To address range anxiety, the market is focusing on increasing the density of charging stations, ensuring that drivers always have a charging option nearby. Challenges in Standardizing EV Charging Technologies Despite the rapid expansion of EV charging infrastructure, lack of standardization remains a key issue. Different automakers and regions use varying charging protocols and connectors, leading to incompatibility concerns. Major Charging Standards: CCS (Combined Charging System): Popular in Europe and North America. CHAdeMO: Used mainly by Japanese automakers. Tesla Supercharger: Proprietary but opening up for other EVs. GB/T: The standard used in China. Impact on EV Charger Market: The push for a unified global charging standard is increasing. Many companies are now offering multi-standard chargers to support different vehicles, but a universal system is still needed. Electrification Components Industry Analysis Reports: Renewable Energy Integration in EV Charging Stations With the global focus on sustainability, EV charging stations are increasingly incorporating renewable energy sources to reduce their carbon footprint. Key Developments in Renewable Charging: Solar-Powered Charging Stations: Photovoltaic panels generate electricity to power EV chargers. Wind Energy for EV Charging: Wind farms provide a direct power source for EV charging infrastructure. Battery Storage Solutions: Large batteries store excess renewable energy for 24/7 availability. Impact on EV Charger Market: The shift toward clean energy-based charging stations is gaining traction, with many countries setting targets for 100% renewable-powered EV infrastructure. Key Market Players Tesla Inc. ChargePoint Holdings ABB Ltd. Robert Bosch GmbH Siemens AG Delphi Automotive Chroma ATE Aerovironment Inc. Silicon Laboratories bp pulse Schaffner Holding AG POD Point Blink Charging Co. Key Segmentation By Vehicle Type: The EV charger market supports Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Fuel Cell Electric Vehicles (FCEVs), with BEVs leading due to increasing adoption of zero-emission vehicles. By Charging Type: Charging solutions include on-board chargers, off-board chargers, and others, with off-board chargers gaining traction for faster charging capabilities. By End User: EV chargers cater to residential, commercial, and other electric vehicles, with commercial charging infrastructure expanding due to rising fleet electrification. By Region: The market spans North America, Latin America, Europe, East Asia, South Asia and the Pacific, and the Middle East and Africa (MEA), with Europe and North America leading due to government incentives and charging network expansion. Have a Look at Related Research Reports of Automotive The axial piston motor market is witnessing steady growth, owing to increasing advancements in industrial technologies and the rising application in various end-use industries. The Automotive Battery Management System (BMS) market is poised for remarkable growth over the next decade, driven by the rapid adoption of electric vehicles (EVs), advancements in battery technologies, and stringent regulations for energy efficiency and vehicle safety. The USA market for electric vehicle (EV) reducers has substantial growth potential, primarily propelled by the escalating need for electric vehicles and the constant shift towards environmentally friendly transportation. The UK EV reducer market is forecasted to grow at a steady CAGR of 6.5% between 2025 and 2035, propelled by the increased consumer acceptance and innovations in electric drivetrains. The Japan electric vehicle (EV) reducer market is expected to see a significant increase in size, amounting to a valuation of USD 800 million by the year 2035, reflecting a compound annual growth rate (CAGR) of 6.2% for the period between 2025 and 2035. The Germany Electric Vehicle (EV) Reducer Market is slated for significant expansion, with a projected market size of USD 1.2 billion by 2035, and a CAGR of 6.2% from 2025 to 2035. The electric vehicle (EV) reducer market in the ASEAN (Association of Southeast Asian Nations) region is heading for quick expansion. The global automotive wiring harness market is expected to grow robustly from 2025 to 2035 due to the rising trend of in-car integration of advanced electronic systems and the adoption of electric vehicles. The global demand for electric vehicle reducer reached USD 1,974.1 million in 2024 and is further anticipated to witness a year over year growth of 22.3% in the year 2025. The Railway Traction Inverter Market is poised for steady growth, driven by the increasing global focus on electrification and energy efficiency in railway transportation. About Future Market Insights (FMI) Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise. 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