Russia Electric Car Market
Russia Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at a 3.7% from 2020 to 2027, reaching US$ XX Mn.
Russia Electric Car Market
Russia Electric Car Market Drivers & Restraints:
The Russian industry of electric cars is progressively developing, thanks to the ever-rising demand for electric cars among the homegrown population & the current government efforts to popularize their use in the state. In the year 2018, Russian Minister of Energy Alexander Novak declared the development of electric cars as one of the most pressing matters for the country in the field of the local automotive industry for the next several years. According to Novak, the share of EVs in the total structure of the car fleet in Russia should reach 8 to 10 percent up to 200,000, by 2025.
Russian car producers’ sales raised by 2.7 percent compared to the year 2018. The progress was driven by sales of Lada passenger vehicles, which improved by 3 percent. However, UAZ passenger vehicle sales confirmed an 8 percent fall compared to 2018 results, yet maintaining its market share at the level of 1 percent. Sales of imported brands assembled in Russia continue to hold the major market segment which accounts for more than 60 percent of all new passenger car sales. Total sales in this segment reduced by 5 percent affecting the dynamics of the entire new passenger car market. Such a drop might have been produced by the 10 percent vehicle price rise in this market segment.
Russian Government Strategy
The Russian government plan includes several actions to inspire the growth of electric transport in Russia & to create suitable conditions for its popularization among the local. As part of these strategies, the government plans to assign funding for the conduction of R&D activities in the field of electric cars & develop refueling infrastructure, providing benefits to electric car owners, opening production unit within the Russian territory, framing new legislative laws for better regulation of electric cars, etc. The Russian government as per the plans has even decided to provide electric car owners the permission to move on bus lanes, free parking, and zeroing the utilization rate for 5 to 7 years. The government believes that the electric cars can attract domestic buyers owing to the ever-increasing fuel value in the country.
Russian electric car market has increased by 2.5 times in 2019:
The electric car market in Russia has registered to 353 units in 2019, showing a 145 percent YoY rise, up from 144 units in 2018. Jaguar I-Pace & Nissan Leaf are dividing the first place in the position with 131 units sold each. The key players are followed by Tesla, which is signified by three models: Tesla X with 46 units, Tesla 3 with 22 units & Tesla S with 13 units sold. In addition, 5 new Renault Twizy, 3 Peugeot Ion & 2 Hyundai Ionic were bought in Russia in 2019.
Zetta will be Russia’s first electric car with a market price of around $7,000:
Russia will introduce its very first locally-made electric car Zetta by 2021, with its certification in the last phases. Zetta, which will be manufactured by Russian Engineering & Manufacturing Company, could run at up to 120km/h with a range of around 200 Km. The Company will start production with an annual volume of 15,000 units a year. Previous reports indicated the retail price for the Zetta electric car would be around $7,000, which would make it the cheapest of its class in the world, on par with other sub-$10,000 models such as Renault City K-ZE and Ora R1.
The objective of the report is to present a comprehensive analysis of the Russia Electric Car Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Russia Electric Car Market dynamics, structure by analyzing the market segments and project the Russia Electric Car Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Russia Electric Car Market make the report investor’s guide.
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Russia Electric Car Market, By Technology
• BEV
• PHEV
• HEV
Russia Electric Car Market, By Product
• Hatchback
• Sedan
• SUV
• Others
Russia Electric Car Market, By Battery
• LFP
• Li-NMC
• Others
Russia Electric Car Market, By Battery Capacity
• >201 Ah
• <201 Ah
Russia Electric Car Market, By End-User
• Shared mobility providers
• Government organizations
• Personal users
• Others
Russia Electric Car Market Key Players
• BMW
• Daimler
• General Motors
• Nissan
• Ford
• Renault
• Rimac
• Tesla Motors
• Kia
• Mitsubishi
• Peugeot
• Volkswagen
• Venturi.
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