Follow PSR’s team of analysts as they track the rapidly expanding global battery electric power market, including, battery technology, transportation, eMobility, mergers and acquisitions and more.
The U.S. had a robust policy in place to promote the adoption of electric cars, and it used all the tools conservatives say they like — carrots such as financial incentives instead of sticks such as mandates. But now, according to the IEA (International Energy Agency), USA is moving backwards while the rest of the world continues to move forward.
In its EV Global Outlook 2025 report, the IEA says that 20% of new cars sold worldwide in 2024 were electric, a definition that includes plug-in hybrids as well as battery-electric cars.
The world’s sources of critical minerals are increasingly concentrated in just a few countries, most notably China, leaving the global economy vulnerable to supply cutoffs that could disrupt economies and hit consumers with higher prices, a report from International Energy Agency (IEA) has stated.
The report looked at the availability of minerals and metals that may be small in quantity but large in impact when it comes to shifting the economy away from fossil fuels toward electricity and renewable energy.
A few weeks ago, BYD announced new battery technology that allows electric cars to recharge in about 5 minutes. This month, at the annual Shanghai Auto Show, CATL fired back with fast charging news of its own. It claims its second generation Shenxing battery can add 520 kilometers (323 miles) of range in just five minutes of charging time. The BYD announcement claims its batteries can add 400 kilometers (250 miles) in 5 minutes using a Level 3 fast charger
At EES Europe 2025, one of the leading events for the energy storage industry, Aeson Power debuted its sodium battery energy storage product line, including the SIBPOM-4850 for telecommunications, the SIBPOM-12100 for UPS, and the SIBPOM-125kWh energy storage cabinet for C&I-scale use.
French Conseil d’Analyse Économique (CAE) and the German Council of Economic Experts (GCEE) finally weighed in on the EV vs. Hydrogen debate. And they didn’t fall for the hydrogen fantasy. Instead, they did what economists do best: they looked at the numbers, ran the models, and calmly declared that battery-electric trucks are not just viable—they’re the smart bet
Researchers at the University of Waterloo, Ontario, Canada, have developed a new electrolyte system for magnesium anodes, which they claim demonstrates a potential alternative to lithium-ion electric vehicle batteries through superior performance.
The team suggests halide-free Mg batteries surpass previous batteries in terms of safety, efficiency and stability. The aging effects of energy storage are also apparently mitigated with magnesium, which the team claimed would lead to a longer lifespan of the battery.
KG Motors, which manufactures and sells the ultra-compact “mibot” EV, is moving toward mass production of the units. It will start mass production in October 2025 at an assembly plant it has built near its headquarters. The company plans to produce 300 units in FY2025, 3,000 units in FY2026, and 10,000 units in FY2027.
The mibot is a one-person vehicle designed for short-distance travel, with a range of 100 kilometers per charge. The planned price at the time of mass production is 1.1 million yen ($7,700 USD), including consumption tax.
The assembly plant in Higashi Hiroshima City consists of a single production line with a main line of seven processes and a subline of four processes. Since there are only a few parts, the number of processes is less than that of a normal automobile production line.
Honda plans to launch an electric motorcycle in Vietnam this month. The suggested retail price is less than 29 million VND (about $1183) without battery. The company is targeting the younger generation, who often use motorcycles to commute to school.
The name of the motorcycle to be sold is “ICON e:”. It will be manufactured at the company’s Binh Phuoc plant in northern Vietnam and will initially be sold through authorized dealers in seven provinces and cities. The maximum speed is 48 km/h, and it takes about 8 hours to charge the battery from zero to full. The maximum distance that can be traveled on a full charge is 71 kilometers. Because it does not require a driver’s license, which can be obtained at age 18, it is expected to be used by high school students on their way to school.
This month, Alternative Power Report Editor Guy Youngs brings readers up to date on Elon Musk and Tesla activities around the world. Sales are down, stock price is down, and consumer anger is up. Read about it in the March issue of the Alternative Power Report produced by Power Systems Research. The March report also contains information on EV battery development and the tariff wars launched by U.S. President Donald Trump. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
Isuzu North America Corporation has announced that it is establishing a new production base in Greenville County, SC, to expand its vehicle supply capabilities in anticipation of the electrification of commercial vehicles in North America.
The company has purchased a 1,000,000 square foot facility on 200 acres of land it is converting into a state-of-the-art, Isuzu-run, assembly plant.
The size of the Greenville plant will enable Isuzu to consolidate all production-related operations under one roof. This will include KD storage and processing, parts storage, vehicle production and PIO operations. It will also allow for streamlining processes and improving efficiency, the OEM said.
