Referring to 2025 as the “year of the EV” might seem redundant to industry experts like Virta, who have been driving electrification for more than a decade. However, there is no doubt that the industry is undergoing a transformative shift.
Analysts predict that 2025 will be a defining year for electric vehicles (EVs), with electrified cars potentially making up 25% of new vehicle sales, compared to an expected 20% in 2024. This marks a significant milestone.
Watch Full Video: The Electric Car Revolution & Soaring Motorcycle Insurance in 2025
What’s influencing the industry?
Will Jaguar’s Type 00 model attract younger, wealthier EV buyers? How will UK startup Nyobolt revolutionize battery technology? And what are the implications of China surpassing internal combustion engine (ICE) vehicle sales with EVs for the first time?
If one country stands out as the most prominent advocate for EVs, it’s China, especially by late 2024.
In 2025, China expects EV sales to overtake internal combustion engine (ICE) vehicles for the first time, marking a major moment in automotive history.
BYD, one of China’s top automakers, set a remarkable record in 2024 by delivering 4.27 million EVs and plug-in hybrids, solidifying its role as a leader in the global transition to electric vehicles. What’s fueling their success?
China’s government has been a strong advocate for electrification, providing key policy support throughout the supply chain.
The country’s vast domestic market and its rapid technological advancements, particularly in battery production from companies like CATL, have also been critical factors.
Andy Palmer, former executive at Nissan and Aston Martin, often referred to as the “Godfather of EVs,” recently praised the Chinese market in an interview with Business Insider.
“The Chinese cars are bloody good. The Chinese vehicles offer remarkable value for money for what they deliver,” Palmer commented.
“Their battery technology is class-leading, and they’ve put a strong focus on their software.”
For other nations transitioning to EVs, China’s model offers valuable lessons to adapt for their own markets.
However, despite a flourishing domestic market, cross-geopolitical tensions have hindered the international expansion of Chinese EVs.
Tech: Ultra-Fast Battery Charging
“If everything seems under control, you’re not going fast enough,” said legendary race car driver Mario Andretti, who knew a thing or two about speed. Can the battery industry follow this principle? It appears that the industry already is.
Over the last decade, there have been substantial improvements in battery charge times. Today, EV drivers typically expect to charge their vehicles from empty in 20 minutes to a few hours.
Charging times can vary based on the car model and the environment, but the key variable is the type of charger used. Chargers are generally classified as AC, DC, and ultra-fast.
Also Read: Top Wireless Car Chargers for 2025, Stay Powered and Connected on the Go
How fast can chargers get?
As mentioned, China leads the charge, with companies developing faster chargers. For instance, CATL, China’s battery giant, revealed its Shenxing Plus battery in April 2024, which delivers 600 kilometers of range after just 10 minutes of charging.
In August 2024, the Chinese startup Zeekr introduced batteries for its 007 sedan, claiming they were the fastest-charging batteries globally, reaching 80% charge from 10% in just over 10 minutes. The UK is also making significant progress.
Nyobolt, a UK-based startup, showcased its EV prototype in June 2024, which charged to 80% in just 4 minutes and 37 seconds, offering a range of about 120 miles. In comparison, Tesla’s superchargers in 2024 can charge a battery to 80% in 15 to 20 minutes.
Shane Davies, Nyobolt’s director of vehicle battery systems, stated, “Nyobolt is removing the obstacle of slow and inconvenient charging.”
This shift to faster charging is all about enhancing the EV experience globally. However, it’s not just about better batteries—it’s also about building the necessary infrastructure.
This is precisely the mission of Virta, which supports businesses with efficient and reliable EV infrastructure, contributing to a seamless mobility ecosystem.
Economy: EVs in the UK Become More Affordable
Affordability has been one of the major hurdles in the EV industry over the past decade.
A 2023 study by the Green Finance Institute (GFI) revealed that 27% of UK drivers who would not consider an EV cited cost as a major reason.
There are certainly high-end EV models, such as Jaguar’s Type 00 series, starting at £100,000, or the Aspark Owl, priced at $4 million, which is one of the most expensive EVs globally.
The second-hand EV market is also seeing rapid growth, with record sales and significant price reductions.
Manufacturers’ pricing strategies and an increasing number of EV options are reshaping the market, with further stabilization expected as infrastructure and technology advance.
In mid-November 2024, Jaguar revealed its new brand identity with a bold move: the all-electric Type 00, a sleek, Miami-pink car with a huge grille and long bonnet.
This shift from a traditional luxury image to a more edgy, fresh persona is a strategic move aimed at attracting younger buyers in an increasingly competitive market.
The announcement garnered massive attention, with its 30-second teaser video accumulating 3.6 million views and 44,000 comments—consumer interest was clearly piqued.
Journalist James Morris commented, “I can’t remember any automaker launch or rebrand getting this much attention in all my years writing about the car industry.”
Though reactions have been mixed, Jaguar’s chief creative officer, Gerry McGovern, acknowledged that the brand’s shift would “make people feel uncomfortable and polarize opinions.”
Watch Full Video: The Electric Car Revolution & Soaring Motorcycle Insurance in 2025
Will it be commercially successful?
For the EV industry, this raises an interesting point. EVs are no longer just about convenience and technology—they’re now becoming symbols of style and coolness, appealing to a new target demographic.
In a time when aesthetics hold significant weight, the commercial power of what culture deems “cool” should never be underestimated.
Manfredi Ricca, global chief strategy officer at Interbrand, a brand consultancy, said,
“Museums can live on the past alone; commercial businesses can’t—they must turn whatever heritage they have into something that a sufficient number of customers can be willing to pay enough for.”
This shift in creative direction was driven by a commercial need—Jaguar Land Rover’s sales figures in 2023 showed that only 64,241 units of Jaguar models were sold, out of 431,733 total units.
The electric Type 00 is not just about appealing to a younger demographic; it signals Jaguar’s long-term vision for electric vehicles, with the upcoming electric Range Rover slated for launch in early 2025.
Also Read: Tax Policy Changes in 2025 to Increase Costs for UK Electric Vehicle Owners and Businesses
Several notable policy shifts in 2025 will further impact the EV landscape:
United Kingdom
Vehicle Excise Duty (VED) Increases: Starting in April 2025, the UK will implement substantial VED hikes for new petrol, diesel, and hybrid vehicles, encouraging the adoption of zero-emission and electric vehicles.
Diesel buyers could face an average increase of £1,114, petrol buyers £503, and hybrid owners between £135 and £327, depending on the model.
United States
Federal EV Tax Credit Changes: By early 2025, a $7,500 federal tax credit will still be available for qualifying EVs, though the incoming administration may reduce or eliminate these incentives. State-level programs, like California’s $7,500 credit, may continue to support EV purchases if federal incentives decline.
China
Export Restrictions on Battery Technologies: China has proposed new restrictions on exporting battery technologies and critical minerals, such as lithium and gallium, which could impact global EV supply chains and the international expansion of Chinese battery manufacturers.
Europe
Mandatory Charging Points: From 2025, EU regulations will require the installation of recharging points every 60 kilometers along major transport routes, making long-distance travel more convenient for EV owners and addressing range anxiety.
These policy shifts and market developments reflect a concerted global effort to foster EV adoption, enhance infrastructure, and meet environmental targets, all while navigating the challenges posed by increasing competition.
Virta is also playing a crucial role in supporting businesses by providing reliable charging infrastructure, such as their work supporting Berlin’s largest airport.