“Rivian is a first mover in the North American pickup truck market and has secured significant partners and investors including Ford and Amazon, while NIO has produced the most vehicles of all competitors and has innovated solutions for battery swapping and mobile charging services,” says Scott Shepard, senior research analyst with Guidehouse Insights.
The report noted that battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles (FCVs) have continued to grow globally, driven by declining costs from battery innovations and supportive government policies.
Guidehouse stated that the EV market has relied on government support and the growth in the overall vehicle markets. The EV markets have grown to substantial penetration rates in many regions as well as policy revisions within governments. Because of the COVID-19 pandemic, the company noted that regaining the peak will likely take 1-2 additional years.
Guidehouse has ranked the leading companies based on areas, including differentiation, go-to-market strategy, partners, investments, geographic reach, performance, portfolio, marketing, innovation and staying power.
“Nikola is the only competitor among those examined in this report looking to deploy both FCVs and BEVs. Leading upstarts have distinguished themselves within the industry in a first mover capacity and have either deployed EVs or are near to deployment,” added Shepard.
The report has added to Guidehouse’s research within EVs and the division’s market. In May, Guidehouse Insights released a report, Light Duty Vehicle Electrification Overview, examining light duty (LD) EV sales and populations as well as provided forecasts for conservative, base and aggressive scenarios through 2030.
Guidehouse reported that recent growth in the LD EV market with strong hybrid EV (HEV) sales growth has led to positive uptake in the EV market in 2019, even though areas like plug-in EV (PEV) sales in North America have decreased.
The company noted that the introduction of SUV and crossover PEV models in North America and additional mild-hybrid vehicles coming to market in Europe will propel growth. Guidehouse noted that the electric pickup truck market will contribute to the increase of PEV sales in North America.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets.
The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems.