Electric Vehicles Update - EV Battery Plant Market Grows Amidst Green Revolution

The global EV batteries plant construction market is experiencing robust growth, driven by increasing demand for electric vehicles as consumers and governments seek to reduce carbon emissions. The market, valued at $13.6 billion in 2024, is projected to reach $26.5 billion by 2030, with a compound annual growth rate of 11.8%. This expansion is supported by government incentives like subsidies and tax rebates, alongside innovations in battery technology, such as solid-state batteries, which are transforming production processes and facility requirements. As countries like the U.S., China, and those within the European Union set ambitious EV adoption targets, investments in state-of-the-art battery manufacturing plants are accelerating, emphasizing sustainable practices such as recycling and energy efficiency.

In other market news, Uno Minda (BSE:532539) was trading firmly up 5% and ending the day at ₹992.80. At the same time, Elite Material (TWSE:2383) lagged, down 9.9% to end the day at NT$553.00.

Uno Minda is capitalizing on the EV boom by enhancing production of high-demand components. Click here to explore the full narrative of Uno Minda's growth strategy.

Best EV Stocks

• Tesla (NasdaqGS:TSLA) finished trading at $404.60 up 1.1%.
• Ford Motor (NYSE:F) closed at $10.08 down 0.8%.
• NIO (NYSE:NIO) closed at $4.32 down 2.7%. Two days ago, NIO announced a 37.9% year-over-year increase in January vehicle deliveries, totaling 13,863 units.

Summing It All Up

• Embark on your investment journey to our 51 EV Stocks selection, featuring Mercedes-Benz Group, Guangzhou Automobile Group and VinFast Auto, right here.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "EV Batteries Plant Construction Market Report 2025, with Key Players AECOM, Barton Malow, Bechtel, Clayco, Fluor, Gray Tech, Jacobs Solutions, Turner Construction, Walbridge, Yates Construction & More" from Research and Markets on GlobeNewswire (published 31 January 2025)

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com