Electric vehicles have become a focal point for automotive companies like Porsche, Ford, and Honda, who are utilizing new technologies through recent patents to drive innovation and enhance their businesses. These advancements improve efficiency, performance, and user experience while influencing various industries. As the market evolves, trends in innovation, investment, and adoption continue to drive growth. GlobalData’s electric vehicles market report provides comprehensive analysis of the market. Buy the report here.
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This article presents a quarterly round-up of the latest trends in the automotive industry regarding electric vehicles. It provides an overview of recent developments in electric vehicles-related deals, talent acquisition, and patent filings within the automotive industry.
The industry experienced a 4% decline in the number of electric vehicles-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of electric vehicles-related patent applications in the automotive industry witnessed a rise of 21% compared with Q2 2023.
Strategic deal trends in electric vehicles in automotive industry
Automotive companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in electric vehicles. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of electric vehicles in the automotive industry.
In Q2 2024, the number of electric vehicles-related deals in the automotive industry declined by 11% compared with Q2 2023. On a quarterly basis, there was 1% increase in the number of deals in Q2 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2024, the automotive industry experienced a 7% drop compared with the previous quarter. On an annual basis, job postings also grew by 4%. Notably, installation, maintenance, and repair occupations, with a share of 14%, emerged as the top electric vehicles-related job roles within the automotive industry in Q2 2024, with new job postings rising by 56% quarter-on-quarter. management occupations came in second with a share of 12% in Q2 2024, with new job postings rising by 24% over the previous quarter. The other prominent electric vehicles roles include architecture and engineering occupations with an 11% share in Q2 2024, and computer and mathematical occupations with a 11% share of new job postings.
Hero MotoCorp, Lucid Group, Zhejiang Geely Holding Group, RAC, and Polaris are among the top companies leading in electric vehicles hiring within the automotive industry.
Countries driving adoption of electric vehicles in automotive industry
The US is the leading country in electric vehicles adoption within the automotive industry, boasting the highest number of electric vehicles-related patents, jobs, and deals. Meanwhile, India, China, Germany and Japan also maintain significant positions in electric vehicles adoption within the automotive industry.
Despite fluctuations in patent applications and deal numbers, the electric vehicle market continues to grow, with strong hiring trends and significant adoption led by the US. Companies remain committed to advancing EV technology, positioning the industry for continued innovation and expansion.
To further understand GlobalData's analysis on electric vehicles in the automotive industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
