On February 2023, the International Energy Agency (IEA) noted that SUVs constituted more than half of all electric vehicle (EV) sales globally. Their popularity is not expected to wane—by 2030, the electric SUV market’s value is forecast to grow more than 600%, from US$35.6bn in 2020 to US$252.7bn, according to Allied Market Research.
From the Ford Mustang Mach-E to the Tesla Model Y and the BMW iX, SUVs have been at the forefront of electrification’s first phase. The increased size and removal of the engine create a more spacious and comfortable cabin, enhanced infotainment features facilitate a more distinct and premium customer experience, and a larger footprint enables OEMs to incorporate more battery space and boost the vehicle’s range. This subsequently makes SUVs both a desirable and practical choice for consumers switching from gasoline-powered cars.
