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Industry Trends Report

ITRI Spotlights Next-Generation Spotlights Next-Generation
ITRI

Trends in a Rebounding Auto Marketin a Rebounding Auto Market
Trends

By Andrew Hsu

Global economic activity is steadily rebounding each of these trends in detail, illustrating their
as the impact of the COVID-19 pandemic wanes, interconnected impact on the industry's future.
setting the stage for significant shifts in the
automotive industry. Despite ongoing geopolitical Advancing Motor, Battery, and Electronic
uncertainties, the Industrial Technology Research Control Technologies
Institute (ITRI) projects a modest 1.3% growth
in global automobile sales for 2024—totaling 93 Both domestic and international industries are
million units—even as key markets like Japan and accelerating the mass production of solid-state
India face declines. Meanwhile, the electric vehicle batteries, a breakthrough expected to reshape
(EV) sector is outpacing the broader market, with the EV market. Toyota, for example, has received
sales anticipated to surge by 15.7% to over 2.4 approval from the Japanese government to
million units. This robust performance is fueled by begin small-scale production in 2026, with full-
global net-zero carbon emission targets, improved scale production slated for 2030. These next-
affordability, and an expanding range of EV models, generation batteries are projected to offer a range
all of which underscore a transformative period in of 999 kilometers—eventually extending to 1,207
mobility. kilometers—while achieving a full charge in just
10 minutes. Initially, solid-state batteries will be
Responding to these evolving market dynamics, introduced in Hybrid Electric Vehicles (HEVs)
ITRI has gathered insights from more than 20 rather than Battery Electric Vehicles (BEVs) to
domestic and international industry experts to keep vehicle costs manageable and accelerate
identify five key trends shaping the future of commercialization.
automobiles. These focus areas—"advancing
motor, battery, and electronic control technologies”; At the same time, advancements in power
“supporting the growth of new car manufacturers”; systems and motors are being prioritized to
“proactively preparing for future mobility scenarios”; enhance efficiency and reduce costs. The U.S.
“enhancing the unique characteristics of electric Department of Energy (USDOE) has outlined
vehicles”; and “establishing robust testing and research and development goals for Electric
certification environments”—offer a roadmap Traction Motors (ETM) and Electric Traction Drive
for understanding how innovation, investment, Systems (ETDS) to support this transition. Hon Hai
and policy shifts are redefining the automotive Technology Group is also ramping up domestic
landscape. The following sections delve into battery production, with its Kaohsiung plant set to