The North American electric vehicles market is poised for significant growth, with projections indicating it will reach approximately USD 60.53 billion by 2030, driven by favorable policies and rising fuel prices. The market is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2025 to 2030, with plug-in hybrid electric vehicles (PHEVs) anticipated to experience a substantial CAGR exceeding 35% due to increasing demand for electric buses and trucks in logistics and transportation. In addition, Canada is set to lead with the fastest growth rate over the period, supported by the government's initiatives to enhance electric vehicle adoption. This comprehensive report provides valuable insights into market trends, growth opportunities, and competitive dynamics across the region.
Elsewhere in the market, Sumitomo Electric Industries was a standout up 7.1% and ending the day at ¥2,914. In the meantime, Lucid Group trailed, down 6.8% to finish the session at $2.86.
Ford focuses on restructuring efforts to boost profitability and innovate in the electric vehicle market. Click here to explore Ford's strategic transformation in detail.
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