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working in the EV & Battery research team. He works extensively on global EV sales and production analysis, considering the economic and legislative factors that influence both. He also focuses on the strategy of automotive OEMs in the transition to EVs and feeds that into the team’s view on global vehicle markets. George graduated from the University of Exeter with a First Class Honours degree in Politics, Philosophy and Economics.","661d42ec-863b-4057-b487-5eb3812d0ded",{"id":551,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":552,"copyright":547,"fieldtype":553,"meta_data":554,"is_external_url":50},153749850360892,"https://a.storyblok.com/f/287943243085208/500x500/e5fa44ebf8/george-whitecombe.jpeg","asset",{},"https://www.linkedin.com/in/george-whitcombe-2320111b6/","author","Analyst - EV","EV and Battery",[],[],[562,792,961,1148,1338,1502,1620,1802,1965,2090,2207,2353,2475],{"id":563,"uuid":564,"name":565,"slug":566,"full_slug":567,"content":568},182780815763563,"9e32de15-a444-40d6-be33-b749b248d932","Almost half of EVs sold in Europe in 2026 contain Europe-made cells","almost-half-of-evs-sold-in-europe-in-2026-contain-europe-made-cells","article/almost-half-of-evs-sold-in-europe-in-2026-contain-europe-made-cells",{"_uid":569,"date":570,"tags":571,"editor":584,"content":594,"excerpt":769,"featured":51,"reporter":770,"component":774,"seo_title":775,"categories":776,"visibility":783,"data_vis_image":784,"featured_image":786,"seo_description":790,"formattedDate":791},"a89b8e99-0519-48bd-820d-4be61e858c6d","2026-06-01 00:00",[572,575,578,581],{"slug":573,"name":574},"europe","Europe",{"slug":576,"name":577},"catl","CATL",{"slug":579,"name":580},"lg-energy-solution","LG Energy Solution",{"slug":582,"name":583},"samsung-sdi","Samsung SDI",[585],{"slug":586,"name":587,"content":588},"benjamin-roche","Benjamin Roche",{"job_title":589,"image":590,"bio":592,"linkedin":593},"Editor – Energy Transition Supply Chains",{"filename":591},"https://a.storyblok.com/f/287943243085208/800x800/66d6674fb8/benjamin-roche.png","Benjamin is Benchmark's Editor for Energy Transition Supply Chains, covering both upstream products like critical minerals and downstream products including energy storage systems and electric vehicles. He has previous experience covering trade flows, tariffs and the effects of geopolitics on supply chains.","https://www.linkedin.com/in/benjaminrochecontent/",{"type":595,"content":596},"doc",[597,639,661,671,683,691,699,708,730,737,745,756],{"type":598,"attrs":599,"content":600},"paragraph",{"textAlign":49},[601,608,620,625,634],{"text":602,"type":603,"marks":604},"Battery cells ","text",[605],{"type":606,"attrs":607},"textStyle",{"color":547},{"text":609,"type":603,"marks":610},"made in Europe",[611,618],{"type":612,"attrs":613},"link",{"href":614,"uuid":615,"anchor":49,"target":616,"linktype":617},"/article/life-in-the-fastlane-stellantis-investor-day-2026","f128bb5d-bb4f-4ac4-9c56-ded8ce39e790","_blank","story",{"type":606,"attrs":619},{"color":547},{"text":621,"type":603,"marks":622}," met 48% of the battery demand from new passenger car and light duty EVs (PC & LDV EVs) sold in EU & EFTA & UK in the opening four months of 2026. Cells made in China accounted for 47% of ",[623],{"type":606,"attrs":624},{"color":547},{"text":626,"type":603,"marks":627},"battery demand",[628,632],{"type":612,"attrs":629},{"href":630,"uuid":631,"anchor":49,"target":616,"linktype":617},"/article/global-ev-sales-reached-1-60-million-units-in-april-2026","7b51be3e-c55e-4a7f-b883-41de91b7447e",{"type":606,"attrs":633},{"color":547},{"text":635,"type":603,"marks":636}," from new PC & LDV EVs sold in the region, while 5% came from other countries in Asia.",[637],{"type":606,"attrs":638},{"color":547},{"type":598,"attrs":640,"content":641},{"textAlign":49},[642,647,656],{"text":643,"type":603,"marks":644},"Benchmark’s ",[645],{"type":606,"attrs":646},{"color":547},{"text":648,"type":603,"marks":649},"EV & Battery Database",[650,654],{"type":612,"attrs":651},{"href":652,"uuid":49,"anchor":49,"target":49,"linktype":653},"https://downloads.benchmarkminerals.com/","url",{"type":606,"attrs":655},{"color":547},{"text":657,"type":603,"marks":658}," contains a new column outlining the cell production location for each EV model. This update provides increased granularity on the trade flows for battery cells, tracking where they are produced, assembled within an EV, and where that EV is sold.",[659],{"type":606,"attrs":660},{"color":547},{"type":662,"attrs":663},"blok",{"id":664,"body":665},"7ac7b950-6c86-4f5c-9654-42f7a358a5b8",[666],{"id":667,"_uid":668,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"29202164","i-baf6e2f0-6338-44f6-9570-496bc1f19da8","visualisation","ContentFlourish",{"type":672,"attrs":673,"content":675},"heading",{"level":674,"textAlign":49},2,[676],{"text":677,"type":603,"marks":678},"European-made battery cells' market share has stabilised since 2021",[679,681],{"type":606,"attrs":680},{"color":547},{"type":682},"bold",{"type":598,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":603,"marks":688},"The market share of European-made battery cells grew from 21% in 2018 to 49% in 2021, a share which has remained stable through to 2026. European cell production has been driven by South Korean battery producers, which have moved production for the European market to the continent to shorten their supply chains in recent years, lowering the market share for cells made in South Korea.",[689],{"type":606,"attrs":690},{"color":547},{"type":598,"attrs":692,"content":693},{"textAlign":49},[694],{"text":695,"type":603,"marks":696},"European-made battery supply for EVs grew 136% in 2025 compared to 2021. This has been facilitated by the scaling up of production at Samsung SDI’s facility in Hungary and LG Energy Solution’s site in Poland, as well as the start of production at CATL’s Germany facility.",[697],{"type":606,"attrs":698},{"color":547},{"type":672,"attrs":700,"content":701},{"level":674,"textAlign":49},[702],{"text":703,"type":603,"marks":704},"European-made battery cells set to grow",[705,707],{"type":606,"attrs":706},{"color":547},{"type":682},{"type":598,"attrs":709,"content":710},{"textAlign":49},[711,716,725],{"text":712,"type":603,"marks":713},"European-made battery cells are expected to increase their market share in new EVs sold in EU & EFTA & UK over the coming years, largely due to Chinese cell producers building facilities in the region. European cell capacity ",[714],{"type":606,"attrs":715},{"color":547},{"text":717,"type":603,"marks":718},"from Chinese-owned gigafactories",[719,723],{"type":612,"attrs":720},{"href":721,"uuid":722,"anchor":49,"target":616,"linktype":617},"/article/byd-joins-queue-of-chinese-oems-eyeing-underutilised-european-vehicle-plants","a540f8b0-5845-4627-87de-51a7252fba2c",{"type":606,"attrs":724},{"color":547},{"text":726,"type":603,"marks":727}," is expected to reach 40% of all European capacity by 2030 for EV applications. CATL and EVE Energy are both expected to start cell production at their respective new facilities in Hungary this year. Before 2028, several new facilities for LFP production will begin operation in the region, with CATL, CALB and Gotion all expected to produce LFP locally.",[728],{"type":606,"attrs":729},{"color":547},{"type":662,"attrs":731},{"id":732,"body":733},"4ea24360-2be9-4104-9dfa-36ca50634a14",[734],{"id":735,"_uid":736,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"29217220","i-717e9e44-bbcb-4d3e-b7a4-08517e1deb8d",{"type":598,"attrs":738,"content":739},{"textAlign":49},[740],{"text":741,"type":603,"marks":742},"Some European cell manufacturers are in the process of scaling up production in the region, as ACC and Verkor are in France. In conjunction with the opening of new facilities, such as Agratas’ upcoming site in the UK, this will help to grow the market share of locally made batteries in new EVs sold in EU & EFTA & UK.",[743],{"type":606,"attrs":744},{"color":547},{"type":598,"attrs":746,"content":747},{"textAlign":49},[748],{"text":749,"type":603,"marks":750},"This insight draws from Benchmark's EV & Battery Service, consisting of detailed forecasts and supply chain data. By bringing clarity to a complex and opaque market, this subscription facilitates smarter investment decisions, strategy planning and execution, and successful commercial outcomes. To learn more, submit your details below and our team will be in touch:",[751,754],{"type":606,"attrs":752},{"color":753},"black",{"type":755},"italic",{"type":662,"attrs":757},{"id":758,"body":759},"809a5855-f2b7-43c0-a987-49b44e594cfc",[760],{"id":761,"_uid":762,"component":763,"wrap_in_box":50,"redirect_url":764,"success_file":766,"default_height":547,"success_message":547,"v2_hubspot_form":50,"success_sub_text":547,"hidden_field_values":768,"show_on_intelligence":50},"57a99950-73f5-48be-98a4-7324c28e5d0b","i-5f146e3a-35ca-48fa-a3f4-d984c699bf41","ContentHubspotForm",{"id":547,"url":547,"linktype":617,"fieldtype":765,"cached_url":547},"multilink",{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":767},{},[],"Battery cells made in Europe met 48% of the battery demand from new passenger car and light duty EVs (PC & LDV EVs) sold in EU & EFTA & UK in the opening four months of 2026. Cells made in China accounted for 47% of battery demand from new PC & LDV EVs sold in the region, while 5% came from other countries in Asia.\n\nBenchmark’s EV & Battery Database contains a new column outlining the cell production location for each EV model. This update provides increased granularity on the trade flows for battery cells, tracking where they are produced, assembled within an EV, and where that EV is sold.",[771],{"slug":544,"name":543,"content":772},{"job_title":557,"image":773,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"article","Almost half of Europe-sold EVs contain Europe-made cells in 2026",[777,780],{"slug":778,"name":779},"ev","EV",{"slug":781,"name":782},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":785},{},{"id":787,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":788,"copyright":547,"fieldtype":553,"meta_data":789,"is_external_url":50},171875337538485,"https://a.storyblok.com/f/287943243085208/7887x5259/deb154d93f/byd_atto3_evo__073.jpg",{},"Battery cells made in Europe met 48% of the battery demand from new passenger car and light duty EVs (PC & LDV EVs) sold in EU & EFTA & UK in the opening four months of 2026.","Jun 01, 2026",{"id":793,"uuid":722,"name":794,"slug":795,"full_slug":796,"content":797},176745783557371,"BYD joins queue of Chinese OEMs eyeing underutilised European vehicle plants","byd-joins-queue-of-chinese-oems-eyeing-underutilised-european-vehicle-plants","article/byd-joins-queue-of-chinese-oems-eyeing-underutilised-european-vehicle-plants",{"_uid":798,"date":799,"tags":800,"editor":805,"content":809,"excerpt":945,"featured":51,"reporter":946,"component":774,"seo_title":950,"categories":951,"visibility":783,"data_vis_image":953,"featured_image":955,"seo_description":959,"formattedDate":960},"3e469736-523a-4fd6-b1e7-c05146158963","2026-05-15 00:00",[801,804],{"slug":802,"name":803},"byd","BYD",{"slug":573,"name":574},[806],{"slug":586,"name":587,"content":807},{"job_title":589,"image":808,"bio":592,"linkedin":593},{"filename":591},{"type":595,"content":810},[811,816,839,868,887,894,901,906,911,918,923,928,935,940],{"type":598,"attrs":812,"content":813},{"textAlign":49},[814],{"text":815,"type":603},"BYD is negotiating with European vehicle manufacturers including Stellantis to utilise their underutilised production facilities in Europe, including in Italy. It follows an agreement between Stellantis and Leapmotor, struck earlier in May, for the latter to utilise Stellantis factories.",{"type":598,"attrs":817,"content":818},{"textAlign":49},[819,821,828,830,837],{"text":820,"type":603},"BYD’s ",{"text":822,"type":603,"marks":823},"sales of passenger car & light duty EVs",[824],{"type":612,"attrs":825},{"href":826,"uuid":827,"anchor":49,"target":616,"linktype":617},"/article/in-charts-the-rise-of-byd","d138a8e7-adba-49a7-b52d-30b972975714",{"text":829,"type":603}," (PC & LDV EVs) more than doubled in Europe in the first three months of 2026 compared to the same period in 2025. This growth has been supported by the ramp-up of plug-in hybrid EV (PHEV) deliveries as well as ",{"text":831,"type":603,"marks":832},"new model launches",[833],{"type":612,"attrs":834},{"href":835,"uuid":836,"anchor":49,"target":616,"linktype":617},"/article/the-fast-charging-competition-between-catl-and-byd","a1118b56-c6a4-429b-8aff-ec5895a872cb",{"text":838,"type":603},".",{"type":598,"attrs":840,"content":841},{"textAlign":49},[842,849,851,858,860,867],{"text":843,"type":603,"marks":844},"Expansion overseas",[845],{"type":612,"attrs":846},{"href":847,"uuid":848,"anchor":49,"target":616,"linktype":617},"/article/china-made-evs-boost-in-europe-in-march-amid-higher-fuel-prices","399b5622-66a9-43cc-b288-ca777d47a6cc",{"text":850,"type":603}," has increasingly become a central pillar of many Chinese vehicle manufacturers’ strategies in the past 18 months, as it provides them with an opportunity to earn a greater premium on each vehicle sold than they would in ",{"text":852,"type":603,"marks":853},"the domestic market",[854],{"type":612,"attrs":855},{"href":856,"uuid":857,"anchor":49,"target":616,"linktype":617},"/article/weakened-fiscal-support-impacts-china-s-ev-market","bb986c7d-3f1c-4405-8646-4bfd1affc910",{"text":859,"type":603},". By 2030, BYD wants half of its EV sales to come from ",{"text":861,"type":603,"marks":862},"markets outside China",[863],{"type":612,"attrs":864},{"href":865,"uuid":866,"anchor":49,"target":616,"linktype":617},"/article/influx-of-chinese-made-evs-into-mexico-and-brazil-ahead-of-tariff-changes","15a7fc41-9adc-44bf-aa24-0534e0e1639a",{"text":838,"type":603},{"type":598,"attrs":869,"content":870},{"textAlign":49},[871,873,880,882],{"text":872,"type":603},"In October 2024, however, the EU followed an ",{"text":874,"type":603,"marks":875},"international protectionist trend",[876],{"type":612,"attrs":877},{"href":878,"uuid":879,"anchor":49,"target":616,"linktype":617},"/article/us-battery-imports-fall-to-five-year-low-after-section-301-tariffs-raised-to-25-","3a93dd71-07f9-4d99-82c4-f907a3d0771b",{"text":881,"type":603}," in introducing tariffs on Chinese-made battery EVs (BEVs). Several OEMs have sought to establish European production capacity to circumvent the measures.",{"text":883,"type":603,"marks":884}," ",[885],{"type":606,"attrs":886},{"color":547},{"type":662,"attrs":888},{"id":889,"body":890},"c98fbb33-9aa9-4c9a-bdc9-ede4512b4e43",[891],{"id":892,"_uid":893,"type":617,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"3679505","i-c9abc241-bf22-4f14-9e4f-6aeeda902a54",{"type":672,"attrs":895,"content":896},{"level":674,"textAlign":49},[897],{"text":898,"type":603,"marks":899},"European automakers face severe utilisation issues",[900],{"type":682},{"type":598,"attrs":902,"content":903},{"textAlign":49},[904],{"text":905,"type":603},"VW Group is looking to cut its global production capacity by one million as it seeks to cut costs. In December 2024, it announced it would cut European production capacity, while Stellantis is also facing utilisation issues across its European facilities, and plans to close its Poissy, France facility by the end of 2026.",{"type":598,"attrs":907,"content":908},{"textAlign":49},[909],{"text":910,"type":603},"Low utilisation rates at European production facilities are being driven by a lower total vehicle market than before the COVID-19 pandemic, high interest rates suppressing consumer demand and a slower-than-expected transition to EVs.",{"type":672,"attrs":912,"content":913},{"level":674,"textAlign":49},[914],{"text":915,"type":603,"marks":916},"Partnerships a ‘clever solution’",[917],{"type":682},{"type":598,"attrs":919,"content":920},{"textAlign":49},[921],{"text":922,"type":603},"Dongfeng and Chery are both said to be interested in using the second production line at Nissan’s facility in Sunderland, with Nissan looking to consolidate its production at the site onto one line in the second half of 2026.",{"type":598,"attrs":924,"content":925},{"textAlign":49},[926],{"text":927,"type":603},"Stellantis’ partnership with Leapmotor will see the B10 enter production in Spain in October this year, with its T03 model in production in Poland since 2024. Xiaopeng, meanwhile, has said it is discussing European production possibilities with the VW Group, with VW’s CEO saying that enabling Chinese brands to produce in its facilities would be a “clever solution” to its capacity problems.",{"type":672,"attrs":929,"content":930},{"level":674,"textAlign":49},[931],{"text":932,"type":603,"marks":933},"Chinese manufacturers’ European capacity set to grow",[934],{"type":682},{"type":598,"attrs":936,"content":937},{"textAlign":49},[938],{"text":939,"type":603},"While Chinese brands have slowly been taking EV market share in Europe, their increased Europe-based production capacity in 2026 will shorten supply chains and reduce tariff exposure. The resultant enhanced competitiveness will test European markets that have remained resilient to Chinese competition owing to subsidies, incentives and national ties to European manufacturers.",{"type":598,"attrs":941,"content":942},{"textAlign":49},[943],{"text":944,"type":603},"BYD is set to begin series production at its new facility in Hungary before the end of June, with its Turkish site also expected to begin production before the end of the year. Xiaopeng and GAC Aion have both recently started production in Austria.","BYD is negotiating with European vehicle manufacturers including Stellantis to utilise their underutilised production facilities in Europe, including in Italy. It follows an agreement between Stellantis and Leapmotor, struck earlier in May, for the latter to utilise Stellantis factories.\n\nBYD’s sales of passenger car & light duty EVs (PC & LDV EVs) more than doubled in Europe in the first three months of 2026 compared to the same period in 2025. This growth has been supported by the ramp-up of PHEV deliveries as well as new model launches.",[947],{"slug":544,"name":543,"content":948},{"job_title":557,"image":949,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"BYD eyes underutilised European automotive manufacturing capacity",[952],{"slug":778,"name":779},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":954},{},{"id":956,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":957,"copyright":547,"fieldtype":553,"meta_data":958,"is_external_url":50},129065906276278,"https://a.storyblok.com/f/287943243085208/69428aff9b/bm-byd-car-factory-2.jpg",{},"BYD is negotiating with European vehicle manufacturers including Stellantis to utilise their underutilised production facilities in Europe, including in Italy. It follows an agreement between Stellantis and Leapmotor, struck earlier in May.","May 15, 2026",{"id":962,"uuid":963,"name":964,"slug":965,"full_slug":966,"content":967},174335513319245,"4ce229f9-70bb-46a8-a232-d96d8218f5b3","New Canada EV subsidies will support at least 500,000 new sales","canada-s-new-ev-subsidy-scheme-will-support-at-least-500-000-new-ev-sales","article/canada-s-new-ev-subsidy-scheme-will-support-at-least-500-000-new-ev-sales",{"_uid":968,"date":969,"tags":970,"editor":983,"content":987,"excerpt":1127,"featured":51,"reporter":1128,"component":774,"seo_title":964,"categories":1132,"visibility":1137,"data_vis_image":1138,"featured_image":1142,"seo_description":1146,"formattedDate":1147},"a18ae962-b74b-4fdf-aae2-55d7080eb09b","2026-05-08 00:00",[971,974,977,980],{"slug":972,"name":973},"canada","Canada",{"slug":975,"name":976},"ev-demand","EV demand",{"slug":978,"name":979},"north-america","North America",{"slug":981,"name":982},"data-visualisation","Data Visualisation",[984],{"slug":586,"name":587,"content":985},{"job_title":589,"image":986,"bio":592,"linkedin":593},{"filename":591},{"type":595,"content":988},[989,1009,1029,1036,1045,1053,1061,1069,1075,1084,1092,1100,1108,1117],{"type":598,"attrs":990,"content":991},{"textAlign":49},[992,997,1004],{"text":993,"type":603,"marks":994},"With the abrupt end of Canada’s initial electric vehicle (EV) subsidy scheme, the iZEV program, in January 2025, as well as the deterioration of its trading relationship ",[995],{"type":606,"attrs":996},{"color":547},{"text":998,"type":603,"marks":999},"with the US",[1000,1002],{"type":612,"attrs":1001},{"href":865,"uuid":866,"anchor":49,"target":616,"linktype":617},{"type":606,"attrs":1003},{"color":547},{"text":1005,"type":603,"marks":1006}," throughout that year, EV sales in the country declined 38% compared to 2024. In the opening months of 2026, however, Canada has sought to reinvigorate its EV market.",[1007],{"type":606,"attrs":1008},{"color":547},{"type":598,"attrs":1010,"content":1011},{"textAlign":49},[1012,1017,1024],{"text":1013,"type":603,"marks":1014},"First, it has struck an agreement with China to allow up to 49,000 ",[1015],{"type":606,"attrs":1016},{"color":547},{"text":1018,"type":603,"marks":1019},"Chinese-made EVs",[1020,1022],{"type":612,"attrs":1021},{"href":847,"uuid":848,"anchor":49,"target":616,"linktype":617},{"type":606,"attrs":1023},{"color":547},{"text":1025,"type":603,"marks":1026}," into the country at a tariff rate below 100% for the first time since 1 October 2024. More recently, it has launched its new EV subsidy scheme, the ‘Electric Vehicle Affordability Program’.",[1027],{"type":606,"attrs":1028},{"color":547},{"type":662,"attrs":1030},{"id":1031,"body":1032},"eb3db808-a16e-49ff-aa7d-0d9747d017bf",[1033],{"id":1034,"_uid":1035,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28887606","i-3580fe7e-c9ab-468b-8ba8-5bc6cb55744d",{"type":672,"attrs":1037,"content":1038},{"level":674,"textAlign":49},[1039],{"text":1040,"type":603,"marks":1041},"How much support is available?",[1042,1044],{"type":606,"attrs":1043},{"color":547},{"type":682},{"type":598,"attrs":1046,"content":1047},{"textAlign":49},[1048],{"text":1049,"type":603,"marks":1050},"The five-year scheme has a total budget of CAD2.275 billion (USD $1.67 billion) and supports the purchase or lease of new EVs. BEVs and FCEVs are eligible for up to CAD5,000 (USD $3,660) in support, while PHEVs can receive up to CAD2,500 (USD $1,830). Eligible vehicles must be made in either Canada or a country with which it has a free trade agreement. Imported EVs must have a final transaction price of CAD50,000 (USD $36,620) or below, while locally made EVs have no price threshold.",[1051],{"type":606,"attrs":1052},{"color":547},{"type":598,"attrs":1054,"content":1055},{"textAlign":49},[1056],{"text":1057,"type":603,"marks":1058},"To receive the maximum level of financial support, the EV must be either purchased or leased over a four-year period. Vehicles leased over a one-, two- or three-year period receive a pro rata subsidy. Considering 2026 EV sales and the subsequent BEV market share of the theoretically eligible EVs, Benchmark analysis finds the subsidy scheme will support the sale of at least 515,000 EVs over its five-year duration, assuming all vehicles receive the maximum available subsidy.",[1059],{"type":606,"attrs":1060},{"color":547},{"type":598,"attrs":1062,"content":1063},{"textAlign":49},[1064],{"text":1065,"type":603,"marks":1066},"Benchmark analysis suggests Canada’s BEV market share will grow over the subsidy’s duration, though Benchmark still expects the scheme to fund a minimum of 500,000 new EV purchases. The total number of new EVs supported by the scheme is likely to be higher, as not all vehicles will receive the maximum amount and the subsidy value will decline over the scheme’s duration.",[1067],{"type":606,"attrs":1068},{"color":547},{"type":662,"attrs":1070},{"id":1031,"body":1071},[1072],{"id":1073,"_uid":1074,"type":617,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"3672708","i-1557e3c4-571b-402c-a52d-f713fb3e0f00",{"type":672,"attrs":1076,"content":1077},{"level":674,"textAlign":49},[1078],{"text":1079,"type":603,"marks":1080},"How limiting are the scheme’s eligibility criteria?",[1081,1083],{"type":606,"attrs":1082},{"color":547},{"type":682},{"type":598,"attrs":1085,"content":1086},{"textAlign":49},[1087],{"text":1088,"type":603,"marks":1089},"Owing to the array of free trade agreements of which Canada is a part, the vehicle production location criteria is unrestrictive. Canada holds agreements with several key EV-producing nations and regions. These include the US, Mexico, the EU, Japan and South Korea.",[1090],{"type":606,"attrs":1091},{"color":547},{"type":598,"attrs":1093,"content":1094},{"textAlign":49},[1095],{"text":1096,"type":603,"marks":1097},"The transaction price limit is more restrictive and constrains consumers to the base model of many of the eligible vehicles. For instance, the Chevrolet Equinox, Canada’s second best-selling BEV in Q1 2026, has a starting MSRP of CAD49,643 (USD $36,380), while Canada’s best-selling EV in Q1, the Toyota C-HR, has a starting transaction price of CAD48,015 (USD $35,180). However, this is not the case for all eligible models, with several current and upcoming models, such as the new Chevrolet Bolt and Fiat 500e, having starting prices further below the CAD50,000 (USD $36,620) upper limit.",[1098],{"type":606,"attrs":1099},{"color":547},{"type":598,"attrs":1101,"content":1102},{"textAlign":49},[1103],{"text":1104,"type":603,"marks":1105},"In Q1 2026, 54% of EVs sold in Canada were eligible and could have theoretically qualified, providing they were sold below the scheme’s price limit. The scheme has the potential to cover a significant proportion of Canada’s new EV sales, despite the restrictive nature of the transaction price limit, providing the market with support following the turbulence it experienced in 2025.",[1106],{"type":606,"attrs":1107},{"color":547},{"type":598,"attrs":1109,"content":1110},{"textAlign":49},[1111],{"text":1112,"type":603,"marks":1113},"This article draws on insights from Benchmark's EV & Battery Service. To find out more, fill in the form below and one of the team will be in touch:",[1114,1116],{"type":606,"attrs":1115},{"color":547},{"type":755},{"type":662,"attrs":1118},{"id":1119,"body":1120},"4ea20c8f-f7bc-48a1-82f1-18ac606e2709",[1121],{"id":761,"_uid":1122,"component":763,"wrap_in_box":50,"redirect_url":1123,"success_file":1124,"default_height":547,"success_message":547,"v2_hubspot_form":50,"success_sub_text":547,"hidden_field_values":1126,"show_on_intelligence":50},"i-fc59df4e-c6c5-4ba4-8992-4c4ae82c975b",{"id":547,"url":547,"linktype":617,"fieldtype":765,"cached_url":547},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1125},{},[],"With the abrupt end of Canada’s initial electric vehicle (EV) subsidy scheme, the iZEV program, in January 2025, as well as the deterioration of its trading relationship with the US throughout that year, EV sales in the country declined 38% compared to 2024. In the opening months of 2026, however, Canada has sought to reinvigorate its EV market.\n\nFirst, it has struck an agreement with China to allow up to 49,000 Chinese-made EVs into the country at a tariff rate below 100% for the first time since 1 October 2024. More recently, it has launched its new EV subsidy scheme, the ‘Electric Vehicle Affordability Program’.",[1129],{"slug":544,"name":543,"content":1130},{"job_title":557,"image":1131,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},[1133,1134],{"slug":778,"name":779},{"slug":1135,"name":1136},"batteries","Batteries","public",{"id":1139,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1140,"copyright":547,"fieldtype":553,"meta_data":1141,"is_external_url":50},175353181066309,"https://a.storyblok.com/f/287943243085208/1588x1422/b3dad6601a/ev-canada-scheme-2x.png",{},{"id":1143,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1144,"copyright":547,"fieldtype":553,"meta_data":1145,"is_external_url":50},129065979762658,"https://a.storyblok.com/f/287943243085208/b5a3cca6a2/bm-canada-map.jpg",{},"With the abrupt end of Canada’s initial electric vehicle (EV) subsidy scheme and trade tensions with the US in 2025, EV sales in the country declined 38% compared to 2024.","May 08, 2026",{"id":1149,"uuid":848,"name":1150,"slug":1151,"full_slug":1152,"content":1153},171868609960235,"China-made EVs boost in Europe in March amid higher fuel prices","china-made-evs-boost-in-europe-in-march-amid-higher-fuel-prices","article/china-made-evs-boost-in-europe-in-march-amid-higher-fuel-prices",{"_uid":1154,"date":1155,"tags":1156,"editor":1165,"content":1175,"excerpt":1321,"featured":51,"reporter":1322,"component":774,"seo_title":1326,"categories":1327,"visibility":783,"data_vis_image":1330,"featured_image":1334,"seo_description":1336,"formattedDate":1337},"0f9eb5a2-aa7c-4ac9-bb3f-20e384deed68","2026-05-01 00:00",[1157,1160,1163,1164],{"slug":1158,"name":1159},"ev-sales","EV Sales",{"slug":1161,"name":1162},"china","China",{"slug":573,"name":574},{"slug":981,"name":982},[1166],{"slug":1167,"name":1168,"content":1169},"matthew-bird","Matthew Bird",{"job_title":1170,"image":1171,"bio":1173,"linkedin":1174},"Senior Editor - Supply Chains & Data Visualisation",{"filename":1172},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":595,"content":1176},[1177,1214,1232,1239,1248,1256,1265,1296,1304,1312],{"type":598,"attrs":1178,"content":1179},{"textAlign":49},[1180,1185,1195,1200,1209],{"text":1181,"type":603,"marks":1182},"Interest in ",[1183],{"type":606,"attrs":1184},{"color":547},{"text":1186,"type":603,"marks":1187},"EVs rose globally in March 2026",[1188,1193],{"type":612,"attrs":1189},{"href":1190,"uuid":1191,"anchor":49,"target":1192,"linktype":617},"/article/clear-uptick-in-march-bev-sales-reported-so-far-as-the-iran-war-impacts-petrol-prices","3b25b657-92e9-4b2a-9fe0-95c159fc48ef","_self",{"type":606,"attrs":1194},{"color":547},{"text":1196,"type":603,"marks":1197}," amid higher fuel prices due to the ongoing conflict in the Middle East and the closure of the Strait of Hormuz. A significant number of markets around the world experienced greater ",[1198],{"type":606,"attrs":1199},{"color":547},{"text":1201,"type":603,"marks":1202},"EV sales growth ",[1203,1207],{"type":612,"attrs":1204},{"href":1205,"uuid":1206,"anchor":49,"target":1192,"linktype":617},"/article/global-ev-sales-reached-1-75-million-units-in-march-2026","659252f9-9755-4aa0-be80-9c0d7bf3b18c",{"type":606,"attrs":1208},{"color":547},{"text":1210,"type":603,"marks":1211},"after the conflict broke out than before. Sales of passenger car and light duty EVs in Europe were up 33% year-on-year in March, having grown just 19% year-on-year in the first two months of the year.  ",[1212],{"type":606,"attrs":1213},{"color":547},{"type":598,"attrs":1215,"content":1217},{"textAlign":1216},"left",[1218,1227],{"text":1219,"type":603,"marks":1220},"EVs made in China",[1221,1225],{"type":612,"attrs":1222},{"href":1223,"uuid":1224,"anchor":49,"target":1192,"linktype":617},"/article/us-resists-rapid-global-expansion-of-chinese-bev-market-share","73900094-bdce-4976-8269-2039fb4d744d",{"type":606,"attrs":1226},{"color":547},{"text":1228,"type":603,"marks":1229}," have been a major driver of rising global demand and have benefited the most from the surge, with sales in Europe increasing 78% year-on-year in March, up from 39% growth recorded over the first two months of the year. Translating to a boost in their European EV market share, which rose from 20% in January and February to 24% in March.",[1230],{"type":606,"attrs":1231},{"color":547},{"type":662,"attrs":1233},{"id":1234,"body":1235},"fe1046a4-42f0-4d84-9e48-1086857b87a9",[1236],{"id":1237,"_uid":1238,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28785488","i-de82126a-fc5c-4d7a-9a36-df3fb008c02b",{"type":672,"attrs":1240,"content":1241},{"level":674,"textAlign":1216},[1242],{"text":1243,"type":603,"marks":1244},"Which vehicle manufacturers drove the sales increase? ",[1245,1247],{"type":606,"attrs":1246},{"color":547},{"type":682},{"type":598,"attrs":1249,"content":1250},{"textAlign":1216},[1251],{"text":1252,"type":603,"marks":1253},"The sale of China-made Tesla Model 3s in Europe was responsible for half of the four-percentage point increase in the market share of China-made EVs in March compared to the first two months of the year. After Tesla, Chery experienced the greatest rise in market share, which grew by more than one percentage point. This is underpinned by its efforts to scale up deliveries of the Jaecoo and Omoda brands in the region. The Jaecoo 7 was the fifth best-selling EV in the region in March and was the best-selling EV in the UK in Q1, with the second best-selling EV in the UK also a Chinese model, the BYD Seal U DM-i. ",[1254],{"type":606,"attrs":1255},{"color":547},{"type":672,"attrs":1257,"content":1258},{"level":674,"textAlign":1216},[1259],{"text":1260,"type":603,"marks":1261},"Chinese brands are set to continue their expansion into Europe ",[1262,1264],{"type":606,"attrs":1263},{"color":547},{"type":682},{"type":598,"attrs":1266,"content":1267},{"textAlign":1216},[1268,1277,1282,1291],{"text":1269,"type":603,"marks":1270},"Chinese EV manufactures are increasing their presence in Europe",[1271,1275],{"type":612,"attrs":1272},{"href":1273,"uuid":1274,"anchor":49,"target":1192,"linktype":617},"/article/infographic-share-chinese-brands-in-overseas-ev-sales","f983545f-2371-40f2-ae36-722bf28d0e63",{"type":606,"attrs":1276},{"color":547},{"text":1278,"type":603,"marks":1279}," despite the EU’s tariffs on Chinese made BEVs introduced in October 2024. BYD grew its market share in Europe from 2% in 2024 to 6% in 2025, with a further increase to 7% in the opening quarter of 2026, in part due to a greater focus on PHEVs but also through BEV sales growth. Its production facility in ",[1280],{"type":606,"attrs":1281},{"color":547},{"text":1283,"type":603,"marks":1284},"Hungary",[1285,1289],{"type":612,"attrs":1286},{"href":1287,"uuid":1288,"anchor":49,"target":1192,"linktype":617},"/article/what-hungary-s-election-outcome-means-for-its-battery-industry","8680dd72-8d8e-4eb8-96a5-4f10271f666e",{"type":606,"attrs":1290},{"color":547},{"text":1292,"type":603,"marks":1293}," is set to begin mass production in the next two months, enabling it to circumnavigate the EU’s tariff and further grow its market share in the region. ",[1294],{"type":606,"attrs":1295},{"color":547},{"type":598,"attrs":1297,"content":1298},{"textAlign":1216},[1299],{"text":1300,"type":603,"marks":1301},"Other Chinese manufactures are also seeking to establish EV production capacity in Europe as means to elevate their local presence. SAIC is said to be considering Spain to manufacture EVs for its MG brand, it had previously been reported that it was considering Hungary as a potential location. Both Chery and Dongfeng are said to be in talks with Nissan to sublease part of its Sunderland production facility.  ",[1302],{"type":606,"attrs":1303},{"color":547},{"type":598,"attrs":1305,"content":1306},{"textAlign":1216},[1307],{"text":1308,"type":603,"marks":1309},"As Chinese vehicle brands establish more EV production capacity in Europe, shorter supply chains and reduced exposure to tariffs will enhance their ability to compete within the region’s EV market. European markets that have so far been resilient against the arrival of Chinese EVs, such as France due to the structure of its subsidy scheme as well as strong loyalty to national brands, could begin to see that change.",[1310],{"type":606,"attrs":1311},{"color":547},{"type":598,"attrs":1313,"content":1314},{"textAlign":1216},[1315],{"text":1316,"type":603,"marks":1317},"This article draws on expert insights and analysis from Benchmark's EV & Battery Service. To learn more about this Service, fill out the form below and one of the team will be in touch.",[1318,1320],{"type":606,"attrs":1319},{"color":547},{"type":755},"Interest in EVs rose globally in March 2026 amid higher fuel prices due to the ongoing conflict in the Middle East and the closure of the Strait of Hormuz. A significant number of markets around the world experienced greater EV sales growth after the conflict broke out than before. Sales of passenger car and light duty EVs in Europe were up 33% year-on-year in March, having grown just 19% year-on-year in the first two months of the year.  \n\nChina-made EVs have been a major driver of rising global demand and have benefited the most from the surge, with sales in Europe increasing 78% year-on-year in March, up from 39% growth recorded over the first two months of the year. Translating to a boost in their European EV market share, which rose from 20% in January and February to 24% in March.",[1323],{"slug":544,"name":543,"content":1324},{"job_title":557,"image":1325,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"Chinese-made EVs boost in Europe in March amid higher fuel prices",[1328,1329],{"slug":778,"name":779},{"slug":1135,"name":1136},{"id":1331,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1332,"copyright":547,"fieldtype":553,"meta_data":1333,"is_external_url":50},171871044434816,"https://a.storyblok.com/f/287943243085208/1588x1384/cb880ffd61/chinese-evs-in-europe-iran-2x.png",{},{"id":787,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":788,"copyright":547,"fieldtype":553,"meta_data":1335,"is_external_url":50},{},"Interest in EVs rose globally in March 2026 amid higher fuel prices due to the ongoing conflict in the Middle East. Chinese-made EVs have benefited the most from the surge, with sales in Europe increasing 78% year-on-year in March.","May 01, 2026",{"id":1339,"uuid":866,"name":1340,"slug":1341,"full_slug":1342,"content":1343},169357528495431,"Influx of Chinese made EVs into Mexico and Brazil ahead of tariff changes","influx-of-chinese-made-evs-into-mexico-and-brazil-ahead-of-tariff-changes","article/influx-of-chinese-made-evs-into-mexico-and-brazil-ahead-of-tariff-changes",{"_uid":1344,"date":1345,"tags":1346,"editor":1358,"content":1362,"excerpt":1486,"featured":51,"reporter":1487,"component":774,"seo_title":1491,"categories":1492,"visibility":783,"data_vis_image":1494,"featured_image":1496,"seo_description":1500,"formattedDate":1501},"981a9374-7e67-48e5-814c-a9319f1bf959","2026-04-24 00:00",[1347,1350,1353,1356,1357],{"slug":1348,"name":1349},"tariffs","Tariffs",{"slug":1351,"name":1352},"brazil","Brazil",{"slug":1354,"name":1355},"mexico","Mexico",{"slug":1161,"name":1162},{"slug":802,"name":803},[1359],{"slug":1167,"name":1168,"content":1360},{"job_title":1170,"image":1361,"bio":1173,"linkedin":1174},{"filename":1172},{"type":595,"content":1363},[1364,1385,1394,1411,1418,1427,1447,1453,1462,1470,1478],{"type":598,"attrs":1365,"content":1366},{"textAlign":49},[1367,1373,1380],{"text":1368,"type":603,"marks":1369},"The import of passenger car and light duty EVs (PC & LDV EVs) into Mexico increased to record levels in December 2025, with over 50,000 units imported. The spike in imports was driven by Mexico raising tariffs on vehicles from 20% to 50%, effective from January 1 2026. The move to raise tariffs was in part due to pressure from the US government to curb ",[1370],{"type":606,"attrs":1371},{"color":1372},"#000000",{"text":1374,"type":603,"marks":1375},"China’s growing presence",[1376,1378],{"type":612,"attrs":1377},{"href":1223,"uuid":1224,"anchor":49,"target":1192,"linktype":617},{"type":606,"attrs":1379},{"color":1372},{"text":1381,"type":603,"marks":1382}," within the Mexican economy. ",[1383],{"type":606,"attrs":1384},{"color":1372},{"type":672,"attrs":1386,"content":1388},{"level":1387,"textAlign":49},1,[1389],{"text":1390,"type":603,"marks":1391},"BYD drives Mexico’s surge in EV imports ",[1392],{"type":606,"attrs":1393},{"color":547},{"type":598,"attrs":1395,"content":1396},{"textAlign":1216},[1397,1406],{"text":1398,"type":603,"marks":1399},"BYD’s EV imports",[1400,1404],{"type":612,"attrs":1401},{"href":1402,"uuid":1403,"anchor":49,"target":1192,"linktype":617},"/article/byd-gains-market-share-abroad-whilst-losing-domestic-share","d6b62daf-8ed1-4f84-bbfc-fdd50e436327",{"type":606,"attrs":1405},{"color":547},{"text":1407,"type":603,"marks":1408}," into Mexico surpassed 40,000 units in December 2025, comfortably surpassing a previous high of 16,000 EVs in March of the same year. BYD, along with other Chinese OEMs, is turning to overseas markets to raise its profitability given the fiercely competitive price war it faces at home. The squeeze in profitability in China is perhaps most acute regarding small vehicles, with OEMs able to command a significant premium on these vehicles when sold overseas. Consequently, 40% of BYD’s imports into Mexico in December were of the Dolphin Mini, the smallest model it produces.",[1409],{"type":606,"attrs":1410},{"color":547},{"type":662,"attrs":1412},{"id":1413,"body":1414},"685401f8-0f4c-4d9e-a89b-48b45baa6f84",[1415],{"id":1416,"_uid":1417,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28683689","i-0f1846c0-c6cc-4d08-8909-65ca4e112002",{"type":672,"attrs":1419,"content":1420},{"level":1387,"textAlign":1216},[1421],{"text":1422,"type":603,"marks":1423},"Brazil also experienced an influx of Chinese made EVs ahead of tariff changes  ",[1424,1426],{"type":606,"attrs":1425},{"color":547},{"type":682},{"type":598,"attrs":1428,"content":1429},{"textAlign":1216},[1430,1435,1442],{"text":1431,"type":603,"marks":1432},"Brazil is gradually raising the tariff it imposes on imported EVs. Until the end of December 2023, EVs were subject to no import duty. However, by July 2026, the rate will reach 35%, the same level imposed on conventional ICE vehicles. As in Mexico, ",[1433],{"type":606,"attrs":1434},{"color":547},{"text":1436,"type":603,"marks":1437},"Chinese OEMs",[1438,1440],{"type":612,"attrs":1439},{"href":1273,"uuid":1274,"anchor":49,"target":1192,"linktype":617},{"type":606,"attrs":1441},{"color":547},{"text":1443,"type":603,"marks":1444}," are anticipating the tariff changes through increased imports. With a spike in imports before the tariff step change in July 2025 and a ramp-up in preparation for the final tariff change in July 2026 having already started in the opening two months of the year. ",[1445],{"type":606,"attrs":1446},{"color":547},{"type":662,"attrs":1448},{"id":1413,"body":1449},[1450],{"id":1451,"_uid":1452,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28684178","i-f2ee968d-6f89-4edd-9221-34e013b8ce41",{"type":672,"attrs":1454,"content":1455},{"level":1387,"textAlign":1216},[1456],{"text":1457,"type":603,"marks":1458},"How will Chinese OEMs continue to operate in these higher tariff environments? ",[1459,1461],{"type":606,"attrs":1460},{"color":547},{"type":682},{"type":598,"attrs":1463,"content":1464},{"textAlign":1216},[1465],{"text":1466,"type":603,"marks":1467},"Raising tariffs on Chinese made EVs is part of a broader protectionist trend globally in the EV market. Nations are seeking to protect their domestic automotive industry as well as to onshore the EV and battery supply chain given its strategic importance. Mexico and Brazil are not the first to raise tariffs on Chinese EVs, with the EU, US and Turkey having already pursued similar policies. ",[1468],{"type":606,"attrs":1469},{"color":1372},{"type":598,"attrs":1471,"content":1472},{"textAlign":1216},[1473],{"text":1474,"type":603,"marks":1475},"In the USA, Chinese EV brands never had a foothold, so tariffs rising to 100% only cemented the case. However, elsewhere, increased tariffs have done little to slow Chinese OEM expansion down. In the EU, Chinese OEMs have continued to operate and grow their market share despite the imposition of tariffs on BEV imports from China in October 2024. The imposition of tariffs has, however, led several OEMs to localise production. ",[1476],{"type":606,"attrs":1477},{"color":547},{"type":598,"attrs":1479,"content":1480},{"textAlign":1216},[1481],{"text":1482,"type":603,"marks":1483},"BYD has already built a production facility in Brazil where it hopes to ramp up production this year. Despite the site only having an initial annual production capacity of 150,000 units, there are plans to increase the site’s capacity to 600,000 units a year. With BYD looking to establish the facility as its regional production hub, having reportedly already received orders for 100,000 EVs from Mexico and Argentina. ",[1484],{"type":606,"attrs":1485},{"color":547},"The import of passenger car and light duty EVs (PC & LDV EVs) into Mexico increased to record levels in December 2025, with over 50,000 units imported. The spike in imports was driven by Mexico raising tariffs on vehicles from 20% to 50%, effective from January 1 2026. The move to raise tariffs was in part due to pressure from the US government to curb China’s growing presence within the Mexican economy. ",[1488],{"slug":544,"name":543,"content":1489},{"job_title":557,"image":1490,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"Influx of Chinese made EVs into Mexico, Brazil ahead of tariffs",[1493],{"slug":778,"name":779},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1495},{},{"id":1497,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1498,"copyright":547,"fieldtype":553,"meta_data":1499,"is_external_url":50},129066034804735,"https://a.storyblok.com/f/287943243085208/dbe7bd2242/bm-cars-in-a-grid-13194241845e.jpg",{},"The import of passenger car and light duty EVs (PC & LDV EVs) into Mexico increased to record levels in December 2025, with over 50,000 units imported. The spike in imports was driven by Mexico raising tariffs on vehicles from 20% to 50%","Apr 24, 2026",{"id":1503,"uuid":1504,"name":1505,"slug":1506,"full_slug":1507,"content":1508},167902268839189,"1c2cc548-2275-47bb-a337-77c61fbdf56a","Range extended electric vehicles to play an increasing role in Europe and the US after significant China growth","range-extended-electric-vehicles-reevs-to-play-an-increasing-role-in-europe-and-the-usa-after-significant-china-growth","article/range-extended-electric-vehicles-reevs-to-play-an-increasing-role-in-europe-and-the-usa-after-significant-china-growth",{"_uid":1509,"date":1510,"tags":1511,"editor":1520,"content":1524,"excerpt":1604,"featured":51,"reporter":1605,"component":774,"seo_title":1609,"categories":1610,"visibility":783,"data_vis_image":1612,"featured_image":1614,"seo_description":1618,"formattedDate":1619},"b5d8c731-3183-423b-b023-a24c5c44bb30","2026-04-20 00:00",[1512,1515,1516,1519],{"slug":1513,"name":1514},"reev","REEV",{"slug":1161,"name":1162},{"slug":1517,"name":1518},"usa","USA",{"slug":573,"name":574},[1521],{"slug":586,"name":587,"content":1522},{"job_title":589,"image":1523,"bio":592,"linkedin":593},{"filename":591},{"type":595,"content":1525},[1526,1534,1542,1549,1554,1559,1564,1569,1574,1579,1584,1589,1594,1599],{"type":598,"attrs":1527,"content":1528},{"textAlign":49},[1529],{"text":1530,"type":603,"marks":1531},"The share of range extended electric vehicles (REEV) share in China’s EV market sales has risen from nothing in 2019 to over 12% in the first two months of 2026.",[1532],{"type":606,"attrs":1533},{"color":547},{"type":598,"attrs":1535,"content":1536},{"textAlign":49},[1537],{"text":1538,"type":603,"marks":1539},"This growth has been supported by investment into model development, resulting in over 40 models now being available in China. In Europe and the USA, the powertrain remains a largely unexplored technology, with just six models ever being released by a non-Chinese brand and an EV market share of less than 0.5% in both markets.",[1540],{"type":606,"attrs":1541},{"color":547},{"type":662,"attrs":1543},{"id":1544,"body":1545},"2734780b-f495-4809-ae02-2d8ebadab2d2",[1546],{"id":1547,"_uid":1548,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28577100","i-105a3b35-1e65-49c1-a039-777521961f78",{"type":598,"attrs":1550,"content":1551},{"textAlign":49},[1552],{"text":1553,"type":603},"However, the tide for REEVs in both Europe and the US is beginning to turn, each for different reasons. European development will aid local vehicle manufacturers in meeting their EU tailpipe emission reduction targets, given the recent softening of those targets. ",{"type":598,"attrs":1555,"content":1556},{"textAlign":49},[1557],{"text":1558,"type":603},"In the US, meanwhile, the powertrain will enable consumers to have a choice within electrified model line-ups without the same range of constraints as an all-electric alternative. This makes it well-suited to a US market that has witnessed several major BEV investment pull-backs by OEMs in recent years.",{"type":598,"attrs":1560,"content":1561},{"textAlign":49},[1562],{"text":1563,"type":603},"Much like PHEVs, REEVs have both an internal combustion engine (ICE) and battery pack. Unlike PHEVs, where the ICE can directly power the vehicle’s wheels, a REEV’s ICE acts as a generator for the battery and cannot power the vehicle directly. Instead, only the battery is able to power the vehicle’s drive. With REEVs designed to function as a BEV, the battery packs are typically larger than a PHEV equivalent, while its combined range is significantly larger than a BEV given its ability to recharge the battery on the go. ",{"type":672,"attrs":1565,"content":1566},{"level":1387,"textAlign":49},[1567],{"text":1568,"type":603},"High regulatory attractiveness for REEVs in Europe",{"type":598,"attrs":1570,"content":1571},{"textAlign":49},[1572],{"text":1573,"type":603},"The EU’s tailpipe emission standards allow carmakers to comply with a 90% CO2 reduction target, with the remaining 10% compensated through various approved mechanisms, enabling the production of PHEVs, REEVs, HEVs and ICE vehicles to continue. An increase in BEV production is required to meet the target regardless. That increase must be more significant to offset meaningful ICE/HEV sales, whereas PHEVs and REEVs offer greater compliance flexibility when balanced alongside BEVs.",{"type":598,"attrs":1575,"content":1576},{"textAlign":49},[1577],{"text":1578,"type":603},"PHEVs saw their CO2 values increase in 2025, with further adjustments scheduled for 2027 after real-world emissions testing revealed PHEVs emit significantly more CO2 than previously tested in laboratory conditions. REEVs are a potential mitigation strategy considering the reduced regulatory attractiveness of PHEVs for vehicle manufacturers in Europe as they typically feature larger battery packs and deliver lower certified CO2 values. In March 2026, Renault Group became the first carmaker to commit to mass segment REEVs in Europe with its new modular EV platform, RG EV medium2.0. ",{"type":672,"attrs":1580,"content":1581},{"level":1387,"textAlign":49},[1582],{"text":1583,"type":603},"REEVs will provide US consumers with greater flexibility",{"type":598,"attrs":1585,"content":1586},{"textAlign":49},[1587],{"text":1588,"type":603},"In light of the abolition of federal tax credits supporting EV adoption in September 2025 and the reduction of CAFE standards’ fines to zero, North American vehicle manufacturers have significantly readjusted their electrification strategies. Much of this has involved financial write-offs as they cancel future EV models and reduce EV production. However, some of this strategy shift has involved a pivot towards REEVs. The all-electric Ford F-150 is being replaced by a REEV option, Ram opted to launch a REEV pickup truck as it cancelled the development of an all-electric version, and VW Group’s Scout will prioritise the launch of its REEV models over the all-electric versions. ",{"type":598,"attrs":1590,"content":1591},{"textAlign":49},[1592],{"text":1593,"type":603},"BEV development in the US has so far focused on large SUVs and pickup trucks. However, striking the balance between range and vehicle price, given the use of expensive and large high-nickel battery packs, has been a challenge. Amid weaker incentives for both consumers and vehicle manufacturers to electrify, the launch of REEVs in the US market provides greater flexibility to consumers. It provides them with an electrified option that better suits their range requirements. ",{"type":672,"attrs":1595,"content":1596},{"level":1387,"textAlign":49},[1597],{"text":1598,"type":603},"The economics of REEVs remain uncertain",{"type":598,"attrs":1600,"content":1601},{"textAlign":49},[1602],{"text":1603,"type":603},"With BEV pricing in both Europe and the US a barrier to adoption, ensuring REEVs are competitively priced relative to their ICE vehicle counterparts will be important in ensuring significant adoption. A challenge made harder by the need to fit both an ICE and reasonably large battery pack within the vehicle. In China, models available as both a BEV and REEV are typically priced very similarly. The launch of REEVs may not provide the move towards affordably that the EV markets in both Europe and the US require, but they will provide consumers with flexibility and they will ease the reliance on BEV adoption to meet the EU’s emission standards.","The share of range extended electric vehicles (REEV) share in China’s EV market sales has risen from nothing in 2019 to over 12% in the first two months of 2026. \n\nThis growth has been supported by investment into model development, resulting in over 40 models now being available in China. In Europe and the US, the powertrain remains a largely unexplored technology, with just six models ever being released by a non-Chinese brand and an EV market share of less than 0.5% in both markets.\n",[1606],{"slug":544,"name":543,"content":1607},{"job_title":557,"image":1608,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"REEV growth likely in West following significant China inroads",[1611],{"slug":778,"name":779},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1613},{},{"id":1615,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1616,"copyright":547,"fieldtype":553,"meta_data":1617,"is_external_url":50},107126668678844,"https://a.storyblok.com/f/287943243085208/x/d7717f37eb/chinas-miit-introduces-tougher-rules-for-evs-from-2026.avif",{},"The share of range extended electric vehicles (REEV) share in China’s EV market sales has risen from nothing in 2019 to over 12% in the first two months of 2026. This growth has been supported by investment into model development.","Apr 20, 2026",{"id":1621,"uuid":1622,"name":1623,"slug":1624,"full_slug":1625,"content":1626},164039404981666,"eef0e3d1-4daa-49f5-9b09-e9909c2253b6","Growing Chinese EV pack sizes help battery demand to grow despite falling EV sales","growing-chinese-ev-pack-sizes-help-battery-demand-to-grow-despite-falling-ev-sales","article/growing-chinese-ev-pack-sizes-help-battery-demand-to-grow-despite-falling-ev-sales",{"_uid":1627,"date":1628,"tags":1629,"editor":1634,"content":1638,"excerpt":1783,"featured":51,"reporter":1784,"component":774,"seo_title":1788,"categories":1789,"visibility":783,"data_vis_image":1792,"featured_image":1796,"seo_description":1800,"formattedDate":1801},"a61f649a-df7e-4081-bd9a-0ef44a04c35f","2026-04-09 00:00",[1630,1631,1632,1633],{"slug":1161,"name":1162},{"slug":981,"name":982},{"slug":573,"name":574},{"slug":1158,"name":1159},[1635],{"slug":586,"name":587,"content":1636},{"job_title":589,"image":1637,"bio":592,"linkedin":593},{"filename":591},{"type":595,"content":1639},[1640,1662,1670,1677,1686,1694,1702,1708,1728,1736,1745,1753,1761],{"type":598,"attrs":1641,"content":1642},{"textAlign":49},[1643,1648,1657],{"text":1644,"type":603,"marks":1645},"Total battery demand from EVs grew 4% in the January and February 2026 compared to the same two-month period last year, despite ",[1646],{"type":606,"attrs":1647},{"color":547},{"text":1649,"type":603,"marks":1650},"sales of EVs",[1651,1655],{"type":612,"attrs":1652},{"href":1653,"uuid":1654,"anchor":49,"target":1192,"linktype":617},"/article/global-ev-sales-reached-1-1-million-units-in-february-2026","c67ac4c5-ec20-418f-8ffb-364460a1918c",{"type":606,"attrs":1656},{"color":547},{"text":1658,"type":603,"marks":1659}," themselves falling by 8%. ",[1660],{"type":606,"attrs":1661},{"color":547},{"type":598,"attrs":1663,"content":1664},{"textAlign":1216},[1665],{"text":1666,"type":603,"marks":1667},"The contraction in EV sales has been offset by a growing average battery pack size, resulting in a rise in battery demand for EV applications. Pack sizes have been growing in passenger cars and light duty electric vehicles (PC and LDV EVs). This trend has been supplemented by growing sales of electric buses and trucks, which have pack sizes several times larger than those for PC and LDVs.",[1668],{"type":606,"attrs":1669},{"color":547},{"type":662,"attrs":1671},{"id":1672,"body":1673},"97c02a50-cc05-42ff-9b5a-8aa56d53528a",[1674],{"id":1675,"_uid":1676,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28410359","i-233859b3-64f6-4df8-aafa-a4c440c60e5c",{"type":672,"attrs":1678,"content":1679},{"level":674,"textAlign":1216},[1680],{"text":1681,"type":603,"marks":1682},"Growing PC and LDV EV pack sizes ",[1683,1685],{"type":606,"attrs":1684},{"color":547},{"type":682},{"type":598,"attrs":1687,"content":1688},{"textAlign":1216},[1689],{"text":1690,"type":603,"marks":1691},"The average battery pack size in PC and LDV EVs has risen 10% YTD globally in the first two months of the year. In part, this is due to an increasing share of battery electric vehicles (BEV) rather than plug-in hybrids (PHEV). ",[1692],{"type":606,"attrs":1693},{"color":547},{"type":598,"attrs":1695,"content":1696},{"textAlign":1216},[1697],{"text":1698,"type":603,"marks":1699},"Within the BEV segment, the average pack size has grown 7% to 67kWh. This trend is most pronounced in China, where the average BEV pack size has grown 19% to 63kWh.",[1700],{"type":606,"attrs":1701},{"color":547},{"type":662,"attrs":1703},{"id":1672,"body":1704},[1705],{"id":1706,"_uid":1707,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28410861","i-e358bb2c-abd4-4754-99a3-18a514d4e993",{"type":598,"attrs":1709,"content":1710},{"textAlign":1216},[1711,1716,1723],{"text":1712,"type":603,"marks":1713},"BEV pack size growth in China has been encouraged by ",[1714],{"type":606,"attrs":1715},{"color":547},{"text":1717,"type":603,"marks":1718},"changes to the country's trade-in scheme",[1719,1721],{"type":612,"attrs":1720},{"href":856,"uuid":857,"anchor":49,"target":1192,"linktype":617},{"type":606,"attrs":1722},{"color":547},{"text":1724,"type":603,"marks":1725},". Previously, the scheme provided a flat subsidy of RMB20,000 (USD2,900) irrespective of price, resulting in significant discounts – over 60% for some smaller vehicles.  ",[1726],{"type":606,"attrs":1727},{"color":547},{"type":598,"attrs":1729,"content":1730},{"textAlign":1216},[1731],{"text":1732,"type":603,"marks":1733},"However, as of January 2026, the scheme now provides a subsidy worth just 12% of the EV’s list price, up to a maximum subsidy of RMB20,000 (USD2,900). The reduction in the trade-in scheme’s generosity has resulted in smaller EVs losing market share as consumers are no longer able to get the proportionally large discounts on these vehicles that they could previously. ",[1734],{"type":606,"attrs":1735},{"color":547},{"type":672,"attrs":1737,"content":1738},{"level":674,"textAlign":1216},[1739],{"text":1740,"type":603,"marks":1741},"Why does Europe’s average pack size not follow the global trend? ",[1742,1744],{"type":606,"attrs":1743},{"color":547},{"type":682},{"type":598,"attrs":1746,"content":1747},{"textAlign":1216},[1748],{"text":1749,"type":603,"marks":1750},"Europe’s average PC and LDV EV pack size has fallen 3% in the first two months of the year compared to the same period in 2025, with BEVs average pack size falling 2%. Europe’s PC and LDV EV sales mix is moving in the opposite direction to China’s, with smaller segment vehicles slowly gaining market share.  ",[1751],{"type":606,"attrs":1752},{"color":547},{"type":598,"attrs":1754,"content":1755},{"textAlign":1216},[1756],{"text":1757,"type":603,"marks":1758},"This is supported by an increasing number of EV schemes in the region focusing on affordability and EV adoption among lower income households. Italy, Sweden and France have all introduced EV subsidy schemes of this nature in the past six months. The growth of smaller EVs in Europe has also been supported by vehicle manufacturers releasing several smaller EVs in Europe over the past 18 months, including the Ford Puma Gen-E, Kia EV3 and Kia EV4. ",[1759],{"type":606,"attrs":1760},{"color":547},{"type":598,"attrs":1762,"content":1763},{"textAlign":1216},[1764,1769,1778],{"text":1765,"type":603,"marks":1766},"Further support to smaller battery sizes in Europe could come from the EU’s new M1E classification for small EVs under 4.2m which contribute 1.3 credits towards carbon reduction targets. This classification also has less onerous “Made in EU” requirements under the European Commission ",[1767],{"type":606,"attrs":1768},{"color":547},{"text":1770,"type":603,"marks":1771},"proposed Industrial Accelerator Act",[1772,1776],{"type":612,"attrs":1773},{"href":1774,"uuid":1775,"anchor":49,"target":1192,"linktype":617},"/article/industrial-accelerator-act-adds-made-in-eu-requirements-for-automakers","f241906f-ea0d-4bcf-84e5-4ca9c212a23f",{"type":606,"attrs":1777},{"color":547},{"text":1779,"type":603,"marks":1780}," than for larger EVs. ",[1781],{"type":606,"attrs":1782},{"color":547},"Total battery demand from EVs grew 4% in the January and February 2026 compared to the same two-month period last year, despite sales of EVs themselves falling by 8%. \n\nThe contraction in EV sales has been offset by a growing average battery pack size, resulting in a rise in battery demand for EV applications. Pack sizes have been growing in passenger cars and light duty electric vehicles (PC and LDV EVs). This trend has been supplemented by growing sales of electric buses and trucks, which have pack sizes several times larger than those for PC and LDVs.",[1785],{"slug":544,"name":543,"content":1786},{"job_title":557,"image":1787,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"Growing Chinese EV pack sizes help battery demand to grow",[1790,1791],{"slug":1135,"name":1136},{"slug":778,"name":779},{"id":1793,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1794,"copyright":547,"fieldtype":553,"meta_data":1795,"is_external_url":50},164041116054315,"https://a.storyblok.com/f/287943243085208/1588x1386/d22a377d46/pc-ldv-ev-average-pack-size-by-region-three-month-rolling-average-2x.png",{},{"id":1797,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1798,"copyright":547,"fieldtype":553,"meta_data":1799,"is_external_url":50},129064779732327,"https://a.storyblok.com/f/287943243085208/b79626dceb/bm-aerial-view-directly-above-an-electric-vehicle-charging-station-with-parking-spaces-and-road-mark.jpg",{},"Total battery demand from EVs grew 4% in the January and February 2026 compared to the same two-month period last year, despite sales of EVs themselves falling by 8%. ","Apr 09, 2026",{"id":1803,"uuid":1804,"name":1805,"slug":1806,"full_slug":1807,"content":1808},153796343478373,"e280bc7e-9792-4994-93d2-8de12eb4d83c","South Korea’s EV market has record month in February 2026","south-korea-s-ev-market-has-record-month-in-february-2026","article/south-korea-s-ev-market-has-record-month-in-february-2026",{"_uid":1809,"date":1810,"tags":1811,"editor":1816,"content":1826,"excerpt":1948,"featured":51,"reporter":1949,"component":774,"seo_title":1805,"categories":1953,"visibility":1137,"data_vis_image":1956,"featured_image":1960,"seo_description":1948,"formattedDate":1964},"0bf57292-25c1-411a-981a-a1cc87a53572","2026-03-11 00:00",[1812,1815],{"slug":1813,"name":1814},"south-korea","South Korea",{"slug":981,"name":982},[1817],{"slug":1818,"name":1819,"content":1820},"didi-bostock","Didi Bostock",{"job_title":1821,"image":1822,"bio":1824,"linkedin":1825},"Editor - Energy Transition & Economics",{"filename":1823},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":595,"content":1827},[1828,1849,1856,1861,1866,1871,1877,1886,1907,1915,1924,1932,1939],{"type":598,"attrs":1829,"content":1830},{"textAlign":49},[1831,1836,1844],{"text":1832,"type":603,"marks":1833},"South Korea’s passenger car and light duty ",[1834],{"type":606,"attrs":1835},{"color":547},{"text":1837,"type":603,"marks":1838},"electric vehicle",[1839,1841],{"type":606,"attrs":1840},{"color":547},{"type":612,"attrs":1842},{"href":1843,"uuid":49,"anchor":49,"target":616,"linktype":653},"https://www.benchmarkminerals.com/ev-and-battery",{"text":1845,"type":603,"marks":1846}," (PC & LDV EV) market more than tripled month-on-month to over 37,200 EV sales in February 2026. This is the first time the country’s monthly PC & LDV EV sales have surpassed 30,000 units. South Korea’s penetration rate also rose to new highs as it reached 30% for the first time.",[1847],{"type":606,"attrs":1848},{"color":547},{"type":662,"attrs":1850},{"id":1851,"body":1852},"b7e60e6d-f215-405e-b56d-c0e0134eca64",[1853],{"id":1854,"_uid":1855,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28003132","i-9e608a73-de67-410f-a5d3-649e6e77c1a0",{"type":672,"attrs":1857,"content":1858},{"level":1387,"textAlign":49},[1859],{"text":1860,"type":603},"Who drove the surge in sales?",{"type":598,"attrs":1862,"content":1863},{"textAlign":49},[1864],{"text":1865,"type":603},"EVs manufactured domestically drove the rise in sales, with the sale of locally made EVs increasing by almost 20,000 units month-on-month, compared to the 6,200 unit increase for imported EVs. ",{"type":598,"attrs":1867,"content":1868},{"textAlign":49},[1869],{"text":1870,"type":603},"In January 2026 domestically produced and imported EVs sold in roughly equal quantities. The January data shows the Kia PV5 and Hyundai Ioniq 5 led the increase in sales for domestically manufactured vehicles, while the Model Y experienced the greatest increase of all models as its sales rose to over 7,000 units. ",{"type":662,"attrs":1872},{"id":1851,"body":1873},[1874],{"id":1875,"_uid":1876,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"28003335","i-448b53e4-e075-4f74-b172-24eff3e5af40",{"type":672,"attrs":1878,"content":1879},{"level":1387,"textAlign":49},[1880],{"text":1881,"type":603,"marks":1882},"What caused the surge in sales?",[1883,1885],{"type":606,"attrs":1884},{"color":547},{"type":682},{"type":598,"attrs":1887,"content":1888},{"textAlign":49},[1889,1894,1902],{"text":1890,"type":603,"marks":1891},"In January 2026, the South Korean government outlined its 2026 ",[1892],{"type":606,"attrs":1893},{"color":547},{"text":1895,"type":603,"marks":1896},"EV subsidy scheme",[1897,1899],{"type":606,"attrs":1898},{"color":547},{"type":612,"attrs":1900},{"href":1901,"uuid":49,"anchor":49,"target":616,"linktype":653},"https://source.benchmarkminerals.com/article/germany-confirms-its-new-ev-subsidy-scheme",{"text":1903,"type":603,"marks":1904},". The scheme looks to encourage the adoption of smaller and more affordable EVs, which is expected to benefit lower income households. PC EVs under KRW53 million ($36,000) will be eligible for 100% of the subsidy, while those priced over KRW85 million ($57,700) will be eligible for no subsidy, with EVs priced in between able to receive 50% of the subsidy.",[1905],{"type":606,"attrs":1906},{"color":547},{"type":598,"attrs":1908,"content":1909},{"textAlign":49},[1910],{"text":1911,"type":603,"marks":1912},"The total budget for the 2026 scheme is KRW1.60 trillion ($1.08 billion), with new PC purchases receiving a total budget of KRW780 billion ($529 million). With subsidy amounts ranging from around KRW5.7 million ($3,870) to KRW1.7 million ($1,150).",[1913],{"type":606,"attrs":1914},{"color":547},{"type":672,"attrs":1916,"content":1917},{"level":1387,"textAlign":49},[1918],{"text":1919,"type":603,"marks":1920},"What does this mean for South Korea’s EV market in 2026?",[1921,1923],{"type":606,"attrs":1922},{"color":547},{"type":682},{"type":598,"attrs":1925,"content":1926},{"textAlign":49},[1927],{"text":1928,"type":603,"marks":1929},"South Korea’s EV market is highly sensitive to the introduction and expiration of subsidies and their budgets. Following the announcement of the 2025 budget at the start of 2025, EV sales rose in the subsequent months until the budget was fully exhausted in the final months of the year. This trend is likely to be replicated this year, perhaps even exaggerated as consumers that missed out on last year’s budget, which was reduced compared to 2024, seek to take advantage of the 2026 budget.",[1930],{"type":606,"attrs":1931},{"color":547},{"type":598,"attrs":1933,"content":1934},{"textAlign":49},[1935],{"text":1936,"type":603,"marks":1937},"This data came from Benchmark's EV & Battery Service, for more information get in touch with the team using the form below:",[1938],{"type":755},{"type":662,"attrs":1940},{"id":1851,"body":1941},[1942],{"id":761,"_uid":1943,"component":763,"wrap_in_box":50,"redirect_url":1944,"success_file":1945,"default_height":547,"success_message":547,"v2_hubspot_form":50,"success_sub_text":547,"hidden_field_values":1947,"show_on_intelligence":50},"i-e555462f-3b48-4bbc-8bd2-8ed793f1618c",{"id":547,"url":547,"linktype":617,"fieldtype":765,"cached_url":547},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":1946},{},[],"South Korea’s passenger car and light duty electric vehicle (PC & LDV EV) market more than tripled month-on-month to over 37,200 EV sales in February 2026. ",[1950],{"slug":544,"name":543,"content":1951},{"job_title":557,"image":1952,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},[1954,1955],{"slug":778,"name":779},{"slug":1135,"name":1136},{"id":1957,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1958,"copyright":547,"fieldtype":553,"meta_data":1959,"is_external_url":50},153799099387960,"https://a.storyblok.com/f/287943243085208/892x698/011e1e9c3d/screenshot-2026-03-11-140950.png",{},{"id":1961,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":1962,"copyright":547,"fieldtype":553,"meta_data":1963,"is_external_url":50},153797719269142,"https://a.storyblok.com/f/287943243085208/3840x2160/4441d42ff5/adobestock_119926749.jpeg",{},"Mar 11, 2026",{"id":1966,"uuid":1967,"name":1968,"slug":1969,"full_slug":1970,"content":1971},150922938860816,"7de458a0-0657-40d8-8d37-346c42d4def5","EV manufacturers fail to meet their 2025 expectations","ev-manufacturers-fail-to-meet-their-2025-expectations","article/ev-manufacturers-fail-to-meet-their-2025-expectations",{"_uid":1972,"date":1973,"tags":1974,"editor":1980,"content":1984,"excerpt":2076,"featured":51,"reporter":2077,"component":774,"seo_title":1968,"categories":2081,"visibility":783,"data_vis_image":2083,"featured_image":2085,"seo_description":2076,"formattedDate":2089},"f17d6063-b7fe-40ee-9307-f570bc776035","2026-03-03 00:00",[1975,1976,1979],{"slug":778,"name":779},{"slug":1977,"name":1978},"xiaomi","Xiaomi",{"slug":802,"name":803},[1981],{"slug":1818,"name":1819,"content":1982},{"job_title":1821,"image":1983,"bio":1824,"linkedin":1825},{"filename":1823},{"type":595,"content":1985},[1986,2026,2031,2044,2049,2054,2061,2066,2071],{"type":598,"attrs":1987,"content":1988},{"textAlign":49},[1989,1991,1998,2000,2007,2009,2016,2018,2025],{"text":1990,"type":603},"EV-only manufacturers performed poorly relative to their expectations in 2025, with Xiaomi and Xiaopeng Motors the only notable exceptions. ",{"text":1992,"type":603,"marks":1993},"Over the past two years",[1994],{"type":612,"attrs":1995},{"href":1996,"uuid":1997,"anchor":49,"target":1192,"linktype":617},"/article/the-ev-market-past-present-and-future","fe291a62-d1e1-42fc-bf34-907bb7976f84",{"text":1999,"type":603}," many legacy OEMs have scaled back their electrification ambitions, a consequence of slower EV adoption than first expected when the targets were set, due to ",{"text":2001,"type":603,"marks":2002},"current geopolitical trends",[2003],{"type":612,"attrs":2004},{"href":2005,"uuid":2006,"anchor":49,"target":1192,"linktype":617},"/publications/briefings/geo-economic-and-policy-briefings/geo-economic-and-policy-briefing-edition-1-2026","ce29258c-984f-40e2-8a4c-e4eabcf2debf",{"text":2008,"type":603}," and the weakening of legislation, ",{"text":2010,"type":603,"marks":2011},"subsidies ",[2012],{"type":612,"attrs":2013},{"href":2014,"uuid":2015,"anchor":49,"target":1192,"linktype":617},"/article/germany-confirms-its-new-ev-subsidy-scheme","7381307a-486b-41af-b923-1af8fdda11f2",{"text":2017,"type":603},"and ",{"text":2019,"type":603,"marks":2020},"incentives supporting EV adoption",[2021],{"type":612,"attrs":2022},{"href":2023,"uuid":2024,"anchor":49,"target":1192,"linktype":617},"/article/tax-changes-for-2026-hamper-norway-s-ev-sales","e11a55fc-8518-46e0-8327-2bc105a9615b",{"text":838,"type":603},{"type":598,"attrs":2027,"content":2028},{"textAlign":49},[2029],{"text":2030,"type":603},"However, the majority of EV-only manufacturers continue to set annual sales targets. Primarily because this is the key indicator of expansion for these brands, as they do not have hybrid electric vehicles (HEV) or ICE vehicle sales to rely on for growth.",{"type":672,"attrs":2032,"content":2033},{"level":674,"textAlign":49},[2034,2040],{"type":2035,"attrs":2036},"image",{"id":2037,"alt":547,"src":2038,"title":547,"source":547,"copyright":547,"meta_data":2039},150923122371694,"https://a.storyblok.com/f/287943243085208/1134x592/b0b7d61460/brand.png",{},{"text":2041,"type":603,"marks":2042},"Many OEMs revised their expectations partway through the year",[2043],{"type":682},{"type":598,"attrs":2045,"content":2046},{"textAlign":49},[2047],{"text":2048,"type":603},"BYD, Rivian, Lucid and Li Auto all lowered their targets partway through 2025. Rivian and Lucid both just met the lower bounds of their revised targets while Li Auto still missed its revised target of 640,000, down from 700,000 units, by 37%.",{"type":598,"attrs":2050,"content":2051},{"textAlign":49},[2052],{"text":2053,"type":603},"Xiaomi and Leapmotor were the only OEMs to raise their EV sales expectations during the year. Leapmotor increased its targets from 500,000-600,000 EVs to 580,000-650,000 EVs and went on to deliver just under 600,000 units.",{"type":672,"attrs":2055,"content":2056},{"level":674,"textAlign":49},[2057],{"text":2058,"type":603,"marks":2059},"Why did many miss their 2025 expectations?",[2060],{"type":682},{"type":598,"attrs":2062,"content":2063},{"textAlign":49},[2064],{"text":2065,"type":603},"The majority of OEMs only manufacturing EVs are Chinese companies relying on the domestic market for their vehicle sales. The Chinese market experienced strong growth in 2024, with EV sales rising 35% compared to 2023. This growth was underpinned by an increase in the generosity of China’s trade-in scheme, which works to subsidise the purchase of EVs, midway through the year. Chinese OEMs benefited significantly from this: BYD grew 44% compared to 2023, NIO grew 39%, and Li Auto grew 33%.",{"type":598,"attrs":2067,"content":2068},{"textAlign":49},[2069],{"text":2070,"type":603},"Chinese OEMs set their 2025 expectations during a period of high positivity in the Chinese market. This positivity continued into the first half of 2025 with strong year-on-year growth rates every month. However, year-on-year growth stalled in the second half of the year, as sales in the second half of 2024 had been heavily boosted by the change in the trade-in scheme that year.",{"type":598,"attrs":2072,"content":2073},{"textAlign":49},[2074],{"text":2075,"type":603},"China’s EV sales growth is expected to slow again in 2026 due to the introduction of a purchase tax on EVs for the first time since 2014, as well as a reduction in the generosity of China’s trade-in scheme. Chinese OEMs are increasingly turning to overseas markets to fuel their growth. For instance, BYD is looking to sell 1.3 million EVs outside China in 2026. Despite the changes in China’s EV market conditions this year, several OEMs continue to set strong targets for 2026. Zeekr’s target requires growth of 34% relative to 2025, Li Auto’s requires over 35% growth, and NIO’s requires 40% growth.","EV-only manufacturers performed poorly relative to their expectations in 2025, with Xiaomi and Xiaopeng Motors the only notable exceptions.",[2078],{"slug":544,"name":543,"content":2079},{"job_title":557,"image":2080,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},[2082],{"slug":778,"name":779},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":2084},{},{"id":2086,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2087,"copyright":547,"fieldtype":553,"meta_data":2088,"is_external_url":50},129064587089142,"https://a.storyblok.com/f/287943243085208/005d0156fa/bm-a-new-ford-mustang-mach-e-gt-x-electric-vehicle-parking-at-electrify-america-ev-charging-station.jpg",{},"Mar 03, 2026",{"id":2091,"uuid":2024,"name":2092,"slug":2093,"full_slug":2094,"content":2095},146727219669318,"Tax changes for 2026 hamper Norway’s EV sales","tax-changes-for-2026-hamper-norway-s-ev-sales","article/tax-changes-for-2026-hamper-norway-s-ev-sales",{"_uid":2096,"date":2097,"tags":2098,"editor":2101,"content":2105,"excerpt":2190,"featured":51,"reporter":2191,"component":774,"seo_title":2092,"categories":2195,"visibility":1137,"data_vis_image":2198,"featured_image":2202,"seo_description":2190,"formattedDate":2206},"3e762ae6-039d-42ad-a193-c63fcfdd2aae","2026-02-19 00:00",[2099,2100],{"slug":573,"name":574},{"slug":981,"name":982},[2102],{"slug":1818,"name":1819,"content":2103},{"job_title":1821,"image":2104,"bio":1824,"linkedin":1825},{"filename":1823},{"type":595,"content":2106},[2107,2126,2133,2142,2147,2152,2161,2166,2174,2180],{"type":598,"attrs":2108,"content":2109},{"textAlign":49},[2110,2115,2121],{"text":2111,"type":603,"marks":2112},"Norway’s passenger car and light duty ",[2113],{"type":606,"attrs":2114},{"color":547},{"text":1837,"type":603,"marks":2116},[2117,2119],{"type":606,"attrs":2118},{"color":547},{"type":612,"attrs":2120},{"href":1843,"uuid":49,"anchor":49,"target":616,"linktype":653},{"text":2122,"type":603,"marks":2123}," (PC & LDV EV) sales dropped 71% in January 2026 compared to the opening month of 2025 to just over 2,800 units. The drop came as a result of changes in VAT tax exemptions for battery electric vehicles (BEVs), with the threshold for exemption dropping. Previously just the purchase price over NOK500,000 ($52,700) was subject to a 25% VAT rate, but from 1 January 2026, that threshold dropped to NOK300,000 ($31,600).",[2124],{"type":606,"attrs":2125},{"color":547},{"type":662,"attrs":2127},{"id":2128,"body":2129},"215532f4-1950-41bc-b236-249299665a78",[2130],{"id":2131,"_uid":2132,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"27708474","i-a9eacbbb-ece4-44bb-ac8f-8eb0ef4acbff",{"type":672,"attrs":2134,"content":2135},{"level":1387,"textAlign":49},[2136],{"text":2137,"type":603,"marks":2138},"How has Norway’s tax landscape for EVs changed?",[2139,2141],{"type":606,"attrs":2140},{"color":547},{"type":682},{"type":598,"attrs":2143,"content":2144},{"textAlign":49},[2145],{"text":2146,"type":603},"PC & LDV EV sales dropped 92% month-on-month following a strong pre-buying effect as consumers anticipated the tightening of VAT exemptions for BEVs. This is Norway’s largest month-on-month drop in EV sales since January 2023 when sales contracted 95% to less than 1,800 units due to the initial introduction of VAT for EVs priced over NOK500,000 ($52,700), as well as a weight tax for BEVs on all excess weight over 500kg. ",{"type":598,"attrs":2148,"content":2149},{"textAlign":49},[2150],{"text":2151,"type":603},"Over the past three years, Norway’s top ten best selling EVs all surpass the new NOK300,000 ($31,600) price threshold. However, the top ten also contained models that were subject to VAT as they were priced over the NOK500,000 ($52,700) threshold, such as the ID.Buzz and ID.7. The reduced threshold does not spell the end of VAT exemption for EVs in Norway, with the base prices of the MG-4 and Renault 5 falling under the new upper limit.",{"type":672,"attrs":2153,"content":2154},{"level":1387,"textAlign":49},[2155],{"text":2156,"type":603,"marks":2157},"How does this impact Norway’s transition to EVs?",[2158,2160],{"type":606,"attrs":2159},{"color":547},{"type":682},{"type":598,"attrs":2162,"content":2163},{"textAlign":49},[2164],{"text":2165,"type":603},"Norway has reached penetration rates high enough to mean that its EV market is the majority of its total vehicle market on a monthly basis. While there was a significant drop in unit sales in January, the market’s penetration rate was 84%[MB3.1][DB3.2]. Which is slightly below its 2025 penetration rate but still above that of any preceding year.",{"type":598,"attrs":2167,"content":2168},{"textAlign":49},[2169],{"text":2170,"type":603,"marks":2171},"While Norway’s penetration will continue to lead both in Europe and globally, its unit sales for both its total vehicle market and EV market will see a contraction in 2026 relative to 2025. This contraction is likely to persist into 2027, with the Norwegian government proposing to end the VAT exemption enjoyed by BEVs entirely from 1 January 2027.",[2172],{"type":606,"attrs":2173},{"color":547},{"type":598,"attrs":2175,"content":2176},{"textAlign":49},[2177],{"text":1936,"type":603,"marks":2178},[2179],{"type":755},{"type":662,"attrs":2181},{"id":2182,"body":2183},"cd388a39-4e6b-42cb-9888-243fc9cd41f8",[2184],{"id":761,"_uid":2185,"component":763,"wrap_in_box":50,"redirect_url":2186,"success_file":2187,"default_height":547,"success_message":547,"v2_hubspot_form":50,"success_sub_text":547,"hidden_field_values":2189,"show_on_intelligence":50},"i-54ac4dee-c805-4a7a-82e5-2dffd58bc2eb",{"id":547,"url":547,"linktype":617,"fieldtype":765,"cached_url":547},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":2188},{},[],"Norway’s passenger car and light duty electric vehicle (PC & LDV EV) sales dropped 71% in January 2026 compared to the opening month of 2025 to just over 2,800 units. ",[2192],{"slug":544,"name":543,"content":2193},{"job_title":557,"image":2194,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},[2196,2197],{"slug":778,"name":779},{"slug":1135,"name":1136},{"id":2199,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2200,"copyright":547,"fieldtype":553,"meta_data":2201,"is_external_url":50},146728141620801,"https://a.storyblok.com/f/287943243085208/1040x647/f47a17f4fe/screenshot-2026-02-19-110323.png",{},{"id":2203,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2204,"copyright":547,"fieldtype":553,"meta_data":2205,"is_external_url":50},146727362807314,"https://a.storyblok.com/f/287943243085208/6048x4024/4416c03e36/chuttersnap-xfayasmv1p8-unsplash.jpg",{},"Feb 19, 2026",{"id":2208,"uuid":2209,"name":2210,"slug":2211,"full_slug":2212,"content":2213},143538433972097,"2c114224-37fb-4458-97a1-112ab09a8958","Thailand’s EV sales surge to record levels in January 2026","thailand-s-ev-sales-surge-to-record-levels-in-january-2026","article/thailand-s-ev-sales-surge-to-record-levels-in-january-2026",{"_uid":2214,"date":2215,"tags":2216,"editor":2223,"content":2227,"excerpt":2335,"featured":51,"reporter":2336,"component":774,"seo_title":2210,"categories":2340,"visibility":1137,"author_company":547,"data_vis_image":2346,"featured_image":2348,"seo_description":2335,"author_full_name":547,"author_job_title":547,"formattedDate":2352},"93d1c6b7-02f3-4812-b25a-4fae9e536948","2026-02-10 00:00",[2217,2220],{"slug":2218,"name":2219},"electric-vehicles","electric vehicles",{"slug":2221,"name":2222},"thailand","Thailand",[2224],{"slug":1818,"name":1819,"content":2225},{"job_title":1821,"image":2226,"bio":1824,"linkedin":1825},{"filename":1823},{"type":595,"content":2228},[2229,2234,2241,2248,2253,2258,2275,2293,2300,2305,2310,2321,2323,2333],{"type":598,"attrs":2230,"content":2231},{"textAlign":49},[2232],{"text":2233,"type":603},"Thailand’s electric vehicle (EV) sales (passenger car and light duty vehicles) more than tripled year-on-year to over 44,000 units in January 2026, a record month for the country. Its penetration rate grew to 48%, another monthly record, surpassing its previous high of 37% set in December 2025.",{"type":662,"attrs":2235},{"id":2236,"body":2237},"9608f7c1-62e4-4dc1-858a-d4c86f88b34c",[2238],{"id":2239,"_uid":2240,"type":617,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"3582498","i-a369525b-94af-4cd1-853d-08b70ae3b209",{"type":672,"attrs":2242,"content":2243},{"level":1387,"textAlign":49},[2244],{"text":2245,"type":603,"marks":2246},"What drove the surge in EV sales?",[2247],{"type":682},{"type":598,"attrs":2249,"content":2250},{"textAlign":49},[2251],{"text":2252,"type":603},"The significant increase in sales was underpinned by vehicle manufacturers being granted an extension within which to register their vehicles under the Thailand’s EV3 scheme. The previous deadline of December 2025 had been extended to January 2026 in November 2025. At the same time, the deadline for EV3.5 vehicles was moved from December 2027 to January 2028.",{"type":598,"attrs":2254,"content":2255},{"textAlign":49},[2256],{"text":2257,"type":603},"Thailand’s EV3 and EV3.5 schemes promote the adoption of EVs through consumer subsidies. The schemes also offer reduced import duties on completely fully assembled, providing these are later offset by local EV production. The schemes are crucial to Thailand’s ambition to become an EV production hub within Southeast Asia and have started to see success with several OEMs building out EV capacity within the country. To date 14 OEMs have established manufacturing operations in the country with it being a key player for EVs in the regional market but also for export.",{"type":598,"attrs":2259,"content":2260},{"textAlign":49},[2261,2266,2268,2273],{"type":2035,"attrs":2262},{"id":2263,"alt":547,"src":2264,"title":547,"source":547,"copyright":547,"meta_data":2265},143539072715424,"https://a.storyblok.com/f/287943243085208/1805x956/aa7958aba5/thai-ev-production.png",{},{"text":2267,"type":603},"The surge in sales was also supported by changes in vehicle excise tax rates from January 1",{"text":2269,"type":603,"marks":2270},"st",[2271],{"type":2272},"superscript",{"text":2274,"type":603},", 2026. For passenger car battery electric vehicles (BEVs), the rate was reduced from 8% to 2%, while BEV pickup trucks saw a reduction from 2% to 0%.",{"type":598,"attrs":2276,"content":2277},{"textAlign":49},[2278,2282,2290],{"text":2279,"type":603,"marks":2280},"Benchmark Intelligence subscribers can access exclusive EV sales in the ",[2281],{"type":755},{"text":2283,"type":603,"marks":2284},"EV Sales Briefing",[2285,2289],{"type":612,"attrs":2286},{"href":2287,"uuid":2288,"anchor":49,"target":616,"linktype":617},"/publications/briefings/all-ev-sales/december-2025-major-market-ev-sales","bd299d7e-f436-48c6-9f5e-147b1311409d",{"type":755},{"text":838,"type":603,"marks":2291},[2292],{"type":755},{"type":672,"attrs":2294,"content":2295},{"level":1387,"textAlign":49},[2296],{"text":2297,"type":603,"marks":2298},"What does this mean for Thailand’s EV market in 2026?",[2299],{"type":682},{"type":598,"attrs":2301,"content":2302},{"textAlign":49},[2303],{"text":2304,"type":603},"The sharp increase in registrations in January 2026 is likely a one-off event, with OEMs looking to register EVs before the EV3 registration deadline. Thailand’s EV3.5 scheme will continue to encourage the ramp up of domestic EV production using local content which will continue to provide the foundation for EV sales growth in the country.",{"type":598,"attrs":2306,"content":2307},{"textAlign":49},[2308],{"text":2309,"type":603},"EV production ramp up is encouraged through increasing the required number of locally produced EVs to offset every imported EV. The ratio is currently set at two locally produced EVs for every imported vehicle, however in 2027 this increases to a three to one ratio. In late 2025, the Thai government further incentivised local EV production by stipulating that every EV exported from Thailand counts as one and a half vehicles towards an OEM’s local production requirements.",{"type":598,"attrs":2311,"content":2312},{"textAlign":49},[2313,2317],{"text":883,"type":603,"marks":2314},[2315],{"type":606,"attrs":2316},{"color":547},{"text":2318,"type":603,"marks":2319},"The insights in this article were produced using data from Benchmark's EV & Battery Service. For more information, get in touch with the form below:",[2320],{"type":755},{"type":598,"attrs":2322},{"textAlign":49},{"type":662,"attrs":2324},{"id":2325,"body":2326},"0e939770-ec00-463e-8846-41c4b468bb85",[2327],{"id":761,"_uid":2328,"component":763,"wrap_in_box":50,"redirect_url":2329,"success_file":2330,"default_height":547,"success_message":547,"v2_hubspot_form":50,"success_sub_text":547,"hidden_field_values":2332,"show_on_intelligence":50},"10c9524a-e2cb-4bf3-abe4-9292cbb030b6",{"id":547,"url":547,"linktype":617,"fieldtype":765,"cached_url":547},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":2331},{},[],{"type":598,"attrs":2334},{"textAlign":49},"Thailand’s electric vehicle (EV) sales (passenger car and light duty vehicles) more than tripled year-on-year to over 44,000 units in January 2026, a record month for the country",[2337],{"slug":544,"name":543,"content":2338},{"job_title":557,"image":2339,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},[2341,2342,2345],{"slug":778,"name":779},{"slug":2343,"name":2344},"geopolitics","Geopolitics",{"slug":1135,"name":1136},{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":2347},{},{"id":2349,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2350,"copyright":547,"fieldtype":553,"meta_data":2351,"is_external_url":50},143541048273742,"https://a.storyblok.com/f/287943243085208/1688x1126/0eebe7617c/adobestock_341081609.jpeg",{},"Feb 10, 2026",{"id":2354,"uuid":2355,"name":2356,"slug":2357,"full_slug":2358,"content":2359},141728893793819,"d988206d-9e4d-43bd-8969-21ef3bdb3281","Tesla to discontinue the Model S and X as it pivots towards humanoid robots","tesla-to-discontinue-the-model-s-and-x-as-it-pivots-towards-humanoid-robots","article/tesla-to-discontinue-the-model-s-and-x-as-it-pivots-towards-humanoid-robots",{"_uid":2360,"date":2361,"tags":2362,"editor":2367,"content":2371,"excerpt":2452,"featured":51,"reporter":2453,"component":774,"seo_title":2457,"categories":2458,"visibility":783,"author_company":547,"data_vis_image":2468,"featured_image":2470,"seo_description":2452,"author_full_name":547,"author_job_title":547,"formattedDate":2474},"6727617d-07cd-4652-8ef4-ef0fda0038bb","2026-02-05 12:51",[2363,2366],{"slug":2364,"name":2365},"tesla","Tesla",{"slug":1517,"name":1518},[2368],{"slug":1818,"name":1819,"content":2369},{"job_title":1821,"image":2370,"bio":1824,"linkedin":1825},{"filename":1823},{"type":595,"content":2372},[2373,2381,2388,2397,2405,2413,2422,2430],{"type":598,"attrs":2374,"content":2375},{"textAlign":49},[2376],{"text":2377,"type":603,"marks":2378},"Production of the Model S and Model X will cease at the end of Q2 2026, with Tesla to repurpose the floor space at its Fremont production facility for assembly of Optimus, its humanoid robot. This decision marks the end for two of the energy transition’s most iconic vehicles. The Model S was among the first mass produced EVs after it started production in mid-2012, with the Model X following soon after in 2015 with its “falcon wing” doors.",[2379],{"type":606,"attrs":2380},{"color":547},{"type":662,"attrs":2382},{"id":2383,"body":2384},"7f392453-3ff4-4706-b34f-9e2494ec1b58",[2385],{"id":2386,"_uid":2387,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"27514804","i-2b2d9af9-4e42-4d4f-823b-7ab291ad316c",{"type":672,"attrs":2389,"content":2390},{"level":1387,"textAlign":49},[2391],{"text":2392,"type":603,"marks":2393},"Model S and Model X sales fall as consumer choice increases",[2394,2396],{"type":606,"attrs":2395},{"color":547},{"type":682},{"type":598,"attrs":2398,"content":2399},{"textAlign":49},[2400],{"text":2401,"type":603,"marks":2402},"Compared to 2018, sales of the two models were down 75% in 2025 and their combined share of Tesla’s total sales fell to just 2%. This decline in sales is a product of an increasing number of available EV models and a greater focus on affordability as EVs sought to break into the mass market. Something neither model was able to achieve due to their premium price point.",[2403],{"type":606,"attrs":2404},{"color":547},{"type":598,"attrs":2406,"content":2407},{"textAlign":49},[2408],{"text":2409,"type":603,"marks":2410},"However, their ultimate demise is a result of Tesla’s increasing focus on becoming a technology company through its development of autonomous driving technology and humanoid robots. Tesla has invested in heavily in recent years to develop its Cybercab robotaxi and humanoid robot and is expected to continue to do so this year as Musk describes 2026 as “a very big capex year” as Tesla prepares “for an epic future.”",[2411],{"type":606,"attrs":2412},{"color":547},{"type":672,"attrs":2414,"content":2415},{"level":1387,"textAlign":49},[2416],{"text":2417,"type":603,"marks":2418},"What is the outlook for humanoid robots?",[2419,2421],{"type":606,"attrs":2420},{"color":547},{"type":682},{"type":598,"attrs":2423,"content":2424},{"textAlign":49},[2425],{"text":2426,"type":603,"marks":2427},"Tesla first announced Optimus, then known as “Tesla bot”, in August 2021, with a prototype first shown in September 2022. Tesla initially aimed to manufacture 5,000 Optimus units in 2025, a target first reduced to 2,000 units and then abandoned in October 2025 due to challenges with the robot’s hand. Musk has stated an ambitious target of producing up to 1 million units by the end of 2027.",[2428],{"type":606,"attrs":2429},{"color":547},{"type":598,"attrs":2431,"content":2432},{"textAlign":49},[2433,2438,2445,2450],{"text":2434,"type":603,"marks":2435},"Humanoid robots are attracting rapidly growing interest as the AI transformation accelerates. Development and testing have so far been concentrated in China; however, industrial trials are now beginning to emerge outside the country. According to Benchmark’s ",[2436],{"type":606,"attrs":2437},{"color":547},{"text":2439,"type":603,"marks":2440},"Non Road Mobile Machinery Outlook",[2441,2443],{"type":612,"attrs":2442},{"href":1843,"uuid":49,"anchor":49,"target":49,"linktype":653},{"type":606,"attrs":2444},{"color":547},{"text":2446,"type":603,"marks":2447},", ",[2448],{"type":606,"attrs":2449},{"color":547},{"text":2451,"type":603},"humanoid robot battery demand is expected to increase by more than 170‑fold by 2035, with sales reaching around 3 million units in that year. China is expected to remain the primary driver of this market.","Production of the Model S and Model X will cease at the end of Q2 2026, with Tesla to repurpose the floor space at its Fremont production facility for Optimus, its humanoid robot, assembly. ",[2454],{"slug":544,"name":543,"content":2455},{"job_title":557,"image":2456,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"Tesla to discontinue Model S and X as it moves to humanoid robots",[2459,2460,2461,2464,2465],{"slug":778,"name":779},{"slug":1135,"name":1136},{"slug":2462,"name":2463},"battery-technology","Battery Technology",{"slug":781,"name":782},{"slug":2466,"name":2467},"new-energy","New Energy",{"id":49,"alt":49,"name":547,"focus":49,"title":49,"source":49,"filename":547,"copyright":49,"fieldtype":553,"meta_data":2469},{},{"id":2471,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2472,"copyright":547,"fieldtype":553,"meta_data":2473,"is_external_url":50},141728962931477,"https://a.storyblok.com/f/287943243085208/4080x2296/ce869e0609/adobestock_1836930130_editorial_use_only.jpeg",{},"Feb 05, 2026",{"id":2476,"uuid":2477,"name":2478,"slug":2479,"full_slug":2480,"content":2481},136724607253715,"ecfaceba-f3ed-44bb-8177-b73107d3ebc6","Canada and China strike deal to allow Chinese made EVs into Canada","canada-and-china-strike-deal-to-allow-chinese-made-evs-into-canada","article/canada-and-china-strike-deal-to-allow-chinese-made-evs-into-canada",{"_uid":2482,"date":2483,"live":51,"tags":2484,"editor":2494,"content":2498,"excerpt":2582,"featured":51,"reporter":2583,"component":774,"seo_title":2587,"categories":2588,"visibility":1137,"author_company":547,"data_vis_image":2595,"featured_image":2599,"seo_description":2603,"author_full_name":547,"author_job_title":547,"formattedDate":2604},"e68cfa0e-8b12-4b0c-b293-f6c4f421ecc5","2026-01-21 00:00",[2485,2486,2487,2488,2489,2490,2493],{"slug":802,"name":803},{"slug":972,"name":973},{"slug":1161,"name":1162},{"slug":981,"name":982},{"slug":1158,"name":1159},{"slug":2491,"name":2492},"geely","Geely",{"slug":2364,"name":2365},[2495],{"slug":1818,"name":1819,"content":2496},{"job_title":1821,"image":2497,"bio":1824,"linkedin":1825},{"filename":1823},{"type":595,"content":2499},[2500,2512,2523,2530,2537,2549,2555,2560,2565,2572,2577],{"type":598,"attrs":2501,"content":2502},{"textAlign":49},[2503,2505,2510],{"text":2504,"type":603},"Up to 49,000 Chinese made ",{"text":2506,"type":603,"marks":2507},"EVs",[2508],{"type":612,"attrs":2509},{"href":1843,"uuid":49,"anchor":49,"target":616,"linktype":653},{"text":2511,"type":603}," will be allowed into Canada at the most-favoured-nation tariff rate of 6.1%. In October 2024, Canada introduced a 100% tariff on EVs from China, following the US’s imposition of the same policy in May of the same year.",{"type":598,"attrs":2513,"content":2514},{"textAlign":49},[2515,2517,2521],{"text":2516,"type":603},"In 2025, the Canadian EV market declined 41% compared to 2024. Largely due to its ",{"text":1895,"type":603,"marks":2518},[2519],{"type":612,"attrs":2520},{"href":1901,"uuid":49,"anchor":49,"target":616,"linktype":653},{"text":2522,"type":603}," ending in mid-January 2025 and the deteriorating trade relationship between the US and Canada.",{"type":662,"attrs":2524},{"id":2525,"body":2526},"d8ae9ec0-8613-4f3d-bf5a-b3a6c675bc82",[2527],{"id":2528,"_uid":2529,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"27309189","i-078bc768-e5e1-4dbf-bfe0-84b2e794eb82",{"type":598,"attrs":2531,"content":2532},{"textAlign":49},[2533],{"text":2534,"type":603,"marks":2535},"Who will benefit from this policy?",[2536],{"type":682},{"type":598,"attrs":2538,"content":2539},{"textAlign":49},[2540,2542,2548],{"text":2541,"type":603},"Historically, Canadian EV imports from China have been dominated by Tesla with Geely being the only other OEM to export EVs from China through Polestar and Volvo. In the immediate term, Tesla and Geely will gain the greatest benefit from the reduced tariff rate as both OEMs have already established networks in Canada. Something others will have to take the time to set up in a market that has largely been closed to ",{"text":2543,"type":603,"marks":2544},"Chinese EVs",[2545],{"type":612,"attrs":2546},{"href":2547,"uuid":49,"anchor":49,"target":616,"linktype":653},"https://source.benchmarkminerals.com/article/purchase-taxes-on-chinese-evs-to-increase-from-2026",{"text":838,"type":603},{"type":662,"attrs":2550},{"id":2525,"body":2551},[2552],{"id":2553,"_uid":2554,"type":669,"component":670,"fixed_height":547,"use_fixed_height":50,"fixed_height_mobile":547,"fixed_height_tablet":547},"27309355","i-c8da3a1e-195d-47c6-8d5b-711017b8e980",{"type":598,"attrs":2556,"content":2557},{"textAlign":49},[2558],{"text":2559,"type":603},"The policy also provides Tesla with a unique opportunity to import vehicles into Canada at a lower tariff rate than what is currently faced by their vehicles made in the US. Considering its sales collapse in the country in 2025, this is something tesla will likely look to take advantage of.",{"type":598,"attrs":2561,"content":2562},{"textAlign":49},[2563],{"text":2564,"type":603},"The reduced tariff rate also presents the opportunity for more affordable EV models to enter the Canadian EV market. The Canadian government anticipates that by 2030, half of its EV imports from China will be priced under CAD35,000 (USD25,300). To date, the Canadian EV market has closely followed the US, where EV development has focused on large SUVs and pickup trucks.",{"type":598,"attrs":2566,"content":2567},{"textAlign":49},[2568],{"text":2569,"type":603,"marks":2570},"Will BYD take over?",[2571],{"type":682},{"type":598,"attrs":2573,"content":2574},{"textAlign":49},[2575],{"text":2576,"type":603},"BYD aims for 50% of its sales to come from markets outside of China by 2030. In pursuit of this, it has expanded significantly into numerous emerging markets, gaining significant market share in a short period of time. It is also growing its market share in Europe, despite the region’s imposition of tariffs on Chinese made EVs.",{"type":598,"attrs":2578,"content":2579},{"textAlign":49},[2580],{"text":2581,"type":603},"The Canadian market certainly presents an opportunity for BYD with its product offering being unlike anything Canadian consumers have yet been exposed to. However, it will take time for BYD to establish the trade flows and networks to be able to distribute EVs within Canada. Many of the EV markets that BYD has come to dominate quickly have lacked competition, whereas the Canadian EV market has numerous American, European and Asian OEMs already operating. Even if BYD was able to claim all 49,000 units of the quota, that represents less than 3% of Canada’s total vehicle market.","Up to 49,000 Chinese made EVs will be allowed into Canada at the most-favoured-nation tariff rate of 6.1%. In October 2024, Canada introduced a 100% tariff on EVs from China, following the US’s imposition of the same policy in May of the same year. In 2025, the Canadian EV market declined 41% compared to 2024...",[2584],{"slug":544,"name":543,"content":2585},{"job_title":557,"image":2586,"bio":548,"linkedin":555,"markets_covered":558},{"filename":552},"Canada and China strike deal to allow Chinese made EVs into ...",[2589,2590,2593,2594],{"slug":1135,"name":1136},{"slug":2591,"name":2592},"critical-minerals","Critical Minerals",{"slug":778,"name":779},{"slug":2343,"name":2344},{"id":2596,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2597,"copyright":547,"fieldtype":553,"meta_data":2598,"is_external_url":50},136726733991361,"https://a.storyblok.com/f/287943243085208/797x654/a662003933/screenshot-2026-01-21-100635.png",{},{"id":2600,"alt":547,"name":547,"focus":547,"title":547,"source":547,"filename":2601,"copyright":547,"fieldtype":553,"meta_data":2602,"is_external_url":50},136725929385373,"https://a.storyblok.com/f/287943243085208/2560x1440/a8b7c16f93/adobestock_780784283.avif",{},"Up to 49,000 Chinese made EVs will be allowed into Canada at the most-favoured-nation tariff rate of 6.1%. In October 2024, Canada introduced a 100% tariff on EVs from China, following the US’s imposition of the same policy in May of the same year. In 202","Jan 21, 2026",1780501056674]