2 minute read
Max Reid
Principal Analyst, Electric Vehicles & Battery Supply Chain Service

Max Reid
Principal Analyst, Electric Vehicles & Battery Supply Chain Service
Max tracks supply chain developments, technological innovations and progressions in battery demand sectors.
Latest articles by Max
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Electric vehicle (EV) and battery demand saw strong global growth in 2024 – but it was a mixed picture across regions. China was in the fast lane, with EV sales around double those of the rest of the world combined.
Europe's market flat-lined as automakers prepared for strict EV targets by boosting non-EV sales to generate cash. And in the US the optimism following on from the Inflation Reduction Act was dented as President-elect Trump indicated subsidy cuts were on the horizon. Automakers struggled getting to grips with low-margin EV businesses.
So, what does the road ahead look like? Drawing on unique insight from our Electric Vehicle & Battery Supply Chain Service, I’ve picked out five areas we’ll be tracking closely in 2025 – and picked out a few wildcards to watch out for.
Fill in the form to get your complimentary copy of Electric vehicle & battery supply chain: 5 things to look for in 2025, and read on for a short introduction to a few of the key themes.
Strong demand but stronger competition in China
China accounted for roughly two-thirds of EV sales in 2024 with a penetration rate of 48%. The government played its part with equipment upgrade and trade-in subsidies offered from March 2024.
In 2025, the subsidy programme will expand by an additional US$11 billion. The trade-in subsidy will support robust demand in EV sales, partly through a focus on the commercial segments. China will bolster its leading domestic and export industries with ease in 2025.
Chinese automakers will face stronger competition in 2025, however. Read the full report to find out more.
Policy changes to shift battery supply chains in 2025
One of the many strengths of China’s EV industry is its robust battery supply chains. To counter the risk of relying on Chinese materials and chemicals, the EU and US have prioritised critical mineral security and industry protection through tariffs on EVs imported from China, while accelerating funding for local mineral production.
China’s dominant capacity share in the midstream, refining and processing of materials, presents a huge risk to US industries. We expect President-elect Trump to supercharge these policies by placing greater tariffs on importing critical minerals and adding scrutiny to sourcing restrictions for tax credits.
How will this alter supply chain dynamics in the year ahead? And could we see greater interest in sodium-ion technology in the US as an option to reduce the overwhelming reliance on importing Chinese LFP cells for the energy storage sector. Read the full report to find out more.
Also in Electric vehicle & battery supply chain: 5 things to look for in 2025…
What factors could constrain EV market growth potential in the US? How might mass-market automakers respond to the regulatory environment in Europe? Could 2025 be a difficult year for new cellmakers? Read our view on these topics and more in the full report.