Global Electric Vehicle Strategies – UROP Spring Symposium 2021

Global Electric Vehicle Strategies

Siyao Lu


Pronouns: He/Him/His

Research Mentor(s): Bruce Belzowski, Managing Director: Automotive Futures
Research Mentor School/College/Department: Automotive Futures,
Presentation Date: Thursday, April 22, 2021
Session: Session 4 (2pm-2:50pm)
Breakout Room: Room 16
Presenter: 5

Event Link


Battery electric vehicle (BEV) sales have continued to break records in 2020. However, the progress does not seem to translate evenly across all vehicle segments. In this research, two sets of data are collected and analyzed. First, historical and current BEV models are sorted into segments (model data). Second, model specifications such as range, MSRP (manufacturer suggested retail price) and battery size are collected for each model across different years (specification data). The analysis focuses on the US, Chinese and European markets, and 2018 is taken as the base year. Based on the model data, the number of existing and new models in each segment is steadily increasing. However, the large and full-size vehicle segments are lagging behind. In the specification data, performance and price display a direct relationship and controlling for price reveals similar per unit performance increases across segments. We conclude with a brief comparison to the internal combustion engine (ICE) vehicle segments. As an ICE vehicle becomes larger, fuel economy and price actually changes inversely. Manufacturers benefit from minor functionality and comfort upgrades in larger and more expensive ICE vehicles. In conclusion, a healthier growth in the large and full-size vehicle segments is needed to support the momentum for electric vehicles. This means the industry will probably adjust its production to provide greater price differentiation, especially in the large and full-size segments, as the EV industry matures.

Authors: Siyao Lu, Bruce Belzowski
Research Method: Data Collection and Analysis

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