This Week In Electric Vehicles - Telematics Fuels Growth In Global Vehicle Technology Market

The global electric vehicle telematics market is experiencing significant growth, driven by increasing demand for electric vehicles (EVs) worldwide. This expansion is partly attributed to advancements in telematics services, which include features such as energy and charge reporting, effective route management, and battery health monitoring. The market is expected to grow at a compound annual growth rate (CAGR) of 10.24%, reaching an estimated value of US$13.504 billion by 2029, up from US$8.294 billion in 2024. The rising adoption of telematics in EVs is encouraging original equipment manufacturers (OEMs) to integrate such systems, enhancing vehicle monitoring, safety, and overall consumer experience. With major contributions from regions like the Asia Pacific, where countries like China and India are seeing substantial EV production and consumption, the market for telematics-equipped EVs is poised for considerable advancement.

In other trading, LG Energy Solution (KOSE:A373220) was a notable mover up 5.7% and ending the day at ₩370,500. At the same time, Hyundai MobisLtd (KOSE:A012330) trailed, down 3.4% to end the day at ₩244,000.

LG Energy Solution is expanding into energy management and enhancing battery production efficiency. Click here to explore how these strategies might open new market opportunities.

Best EV Stocks

• NIO (NYSE:NIO) finished trading at $4.36 up 4.8%.
• Tesla (NasdaqGS:TSLA) closed at $426.50 up 3.1%.
• Ford Motor (NYSE:F) closed at $10.18 up 1.7%.

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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
• "Electric Vehicle Telematics Market - Global Forecasts from 2024 to 2029: OEMs Ramp Up Production of Telematics-Equipped EVs to Meet Soaring Consumer Demand" from Research and Markets on GlobeNewswire (published 20 January 2025)

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