Electric vehicles: Actual market and future prospects , with a focus on battery technology

The transition from internal combustion engine vehicles (ICEVs) to electric vehicles (EVs) is at the heart of global efforts to reduce carbon emissions and combat climate change. This thesis explores the current state and future prospects of the electric vehicle market, with a particular focus on battery technology, analyzing its impact on the automotive industry and the broader economic landscape. The study begins by introducing the climate crisis and examining how EV adoption can serve as a viable solution to mitigate greenhouse gas emissions. The second chapter provides a historical overview of EV development, classifies different types of electric vehicles, and offers an in-depth comparison of battery technologies. Additionally, it assesses the environmental footprint of EVs versus ICEVs, evaluating CO₂ emissions across their life cycle. The third chapter, which forms the core of this research, presents an extensive analysis of the European EV market, mapping out the entire value chain and identifying key players, industry leaders, and emerging stakeholders shaping the sector. Following this, the fourth chapter investigates the externalities, political advocacy, and geopolitical dynamics that have influenced the European Commission’s policies promoting EV adoption. This section critically examines the regulatory frameworks and their economic repercussions on related industries. Finally, the last chapter explores the role of the circular economy in ensuring a smoother transition to electric mobility. It discusses business opportunities and strategic solutions that can offset high initial investments, create new revenue streams, and enhance the long-term sustainability of the EV industry. By offering a comprehensive market analysis, this thesis aims to provide valuable insights into the challenges and opportunities of the European EV sector, highlighting technological advancements, policy interventions, and business innovations that will shape the future of electric mobility.