ELECTRIC VEHICLES INDUSTRY UPDATE - NOVEMBER 28, 2025
The electric vehicle sector is experiencing significant momentum heading into year-end 2025, with notable developments across manufacturing, energy infrastructure, and market positioning.
In India, Mumbai-based Neuron Energy has secured 3.5 million USD in pre-series B funding to expand EV battery manufacturing. The round was co-led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, and Chona Family Office. Neuron Energy projects 200 crore INR in revenue for the current financial year, with medium-term targets exceeding 900 crore INR. The company plans to strengthen R&D in lithium-ion and sodium-ion battery technologies while expanding into four-wheeler and commercial vehicle segments through its upcoming Chakan facility. This reflects India's broader EV market valued at 2 billion USD in 2023, projected to reach 7.09 billion USD by 2025.
Global automakers continue pursuing renewable energy commitments. Ferrari signed a ten-year power purchase agreement with Shell to secure 650 gigawatt-hours of renewable electricity through 2034, covering nearly fifty percent of energy needs at its Maranello plant. This supports Ferrari's goal of reducing scope 1 and 2 emissions by at least ninety percent by 2030.
In product developments, Kia's EV3 continues gaining traction in Australia following its March 2025 launch. The compact SUV currently ranks tenth in year-to-date sales with 2,181 units, offering a 563-kilometer range in its Earth variant priced at 58,600 Australian dollars. The EV3 competes favorably against emerging affordable options like BYD's Atto 2, starting at 31,990 Australian dollars.
Volkswagen delivered 252,100 battery electric vehicles in Q3 2025, representing thirty-three percent year-over-year growth. However, the company faces competitive pressure from BYD, which commands nineteen point nine percent global market share compared to Volkswagen's six point seven percent. Volkswagen's 7.1 billion dollar North American EV expansion and 5.8 billion dollar Rivian partnership demonstrate strategic repositioning.
In emerging markets, Dubai's taxi fleet comprises eighty-three percent hybrid and electric vehicles, underscoring regional sustainability commitments.
These developments indicate accelerating capital deployment in battery technology, expanding manufacturing capacity, and intensifying competition between established and Chinese EV manufacturers. The sector faces price pressure while benefiting from policy support and declining battery costs.
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