EV Market Outlook Report 2025: Trends, Forecasts, and Top Stocks to Watch

The Investing News Network's 2025 EV Outlook Report projects 64 million EVs in use globally in 2024, increasing 33% in 2025. The report features top trends, forecasts, and stocks to watch, with a sneak peek into insider opinions. The report also includes updates from companies such as Cardiol Therapeutics, Sona Nanotech, and Mawson Finland Limited, as well as Hertz Energy's antimony and critical minerals projects.

The electric vehicle (EV) market is poised for significant growth in the coming years, with the Investing News Network (INN) projecting 64 million EVs in use globally by 2025 [1]. This represents a 33% increase from the estimated 48 million EVs expected to be in use in 2024.

One of the primary drivers of this growth is the increasing demand for clean energy solutions as the world continues to grapple with climate change. This demand has led to a surge in interest in battery metals such as lithium, cobalt, graphite, nickel, and copper [1].

In 2024, global EV sales reached 13.3 million units, up 24% from the same period in 2023 [1]. However, this growth was not evenly distributed across all regions. China, the world's largest EV market, accounted for nearly two-thirds of total global sales, with purchases up 38% to 8.4 million units [1].

The dominance of China in the global EV market is beginning to pose challenges for North American and European manufacturers, who are already struggling to gain market share in their own domestic spheres [1]. In response, the Biden administration increased tariffs on Chinese EVs to 100%, while the European Union imposed its own tariffs ranging from 17.4% to 38.1% [1].

Despite these challenges, the US EV industry is not without its opportunities. Tesla, the country's largest seller of EVs, is expected to face challenges in the coming year due to lagging sales of its models [2]. However, other US-based companies such as Cardiol Therapeutics, Sona Nanotech, and Mawson Finland Limited are also making strides in the EV sector [3].

Cardiol Therapeutics, for example, is developing a proprietary, nanoparticle-based lithium-ion battery technology that has the potential to improve the safety and performance of EV batteries [3]. Sona Nanotech, on the other hand, is focused on developing advanced battery materials that can help reduce the cost of EV batteries and improve their overall performance [3].

Another company to watch is Hertz Energy, which is developing antimony and critical minerals projects that are expected to play a key role in the production of EV batteries [3]. These projects have the potential to help reduce the reliance on China for these critical materials and support the growth of the US EV industry.

In conclusion, the EV market is expected to continue growing in the coming years, with China remaining the dominant player. However, challenges facing the US EV industry, particularly from Chinese competitors, are not insignificant. Companies such as Cardiol Therapeutics, Sona Nanotech, and Hertz Energy are making strides in the sector and have the potential to support the growth of the US EV industry and reduce its reliance on China for critical materials.

References:
[1] Investing News Network. (2024, December 12). Electric vehicle market outlook: 2025 projections and trends. https://investingnews.com/electric-vehicle-forecast/
[2] Electric Vehicle Council. (2024, December 6). Tesla sales down 20.88% in 2024. https://evcouncil.org/tesla-sales-down-20-88-in-2024/
[3] Investing News Network. (2024, December 12). Top EV stocks to watch in 2025. https://investingnews.com/top-ev-stocks/