Russia Electric Cars Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

The Russia Electric Cars Market is segmented by Vehicle Configuration (Passenger Cars) and by Fuel Category (BEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Russia Electric Cars Market Size

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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Base Year For Estimation 2023
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Forecast Data Period 2024 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 6.02 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2030) USD 32.96 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2030) 32.77 %

Major Players

Russia Electric Cars Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Russia Electric Cars Market Analysis

The Russia Electric Cars Market size is estimated at 6.02 billion USD in 2024, and is expected to reach 32.96 billion USD by 2030, growing at a CAGR of 32.77% during the forecast period (2024-2030).

6.02 Billion

Market Size in 2024 (USD)

32.96 Billion

Market Size in 2030 (USD)

61.42 %

CAGR (2017-2023)

32.77 %

CAGR (2024-2030)

Largest Segment by Fuel Category

91.28 %

value share, HEV, 2023

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HEVs dominate due to their ability to switch between electric and combustion power, offering better fuel efficiency and lower emissions, making them popular in Russia.

Largest Segment by Vehicle Body Type

72.05 %

value share, Sedan, 2023

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Sedans lead due to their popularity among Russian consumers for their balance of comfort, fuel efficiency, and affordability, making them a preferred choice in the electric car market.

Fastest-growing Segment by Fuel Category

78.09 %

Projected CAGR, PHEV, 2024-2030

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PHEVs are growing rapidly due to their extended electric range, flexibility of dual power sources, and increasing government incentives promoting hybrid technology.

Leading Market Player

20.23 %

market share, Chery Automobile Co. Ltd., 2023

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Chery Automobile Co. Ltd. leads the market with its affordable and reliable electric vehicles, strong manufacturing capacity, and commitment to expanding its market presence in Russia.

Second leading Market Player

1.58 %

market share, Great Wall Motor Company Ltd (GWM), 2023

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Volkswagen AG is a significant player due to its advanced electric vehicle technology, strong brand reputation, and extensive dealership network supporting the adoption of electric mobility in Russia.

Evolving vehicle configurations in Russia's nascent electric car market signal a growing appetite for electric mobility amidst regulatory and infrastructural challenges

  • While Russia's electric car market is still in its early stages, it is showing promising signs of growth and a diverse range of vehicle configurations. These include hatchbacks, sedans, SUVs, and MPVs. Hatchbacks, known for their affordability and practicality, often serve as the entry point for markets embracing electric vehicles. In Russia, electric hatchbacks are gaining popularity, especially among urban dwellers in cities like Moscow and Saint Petersburg, who seek compact and eco-friendly transportation solutions, given the challenges of parking and traffic congestion.
  • Electric sedans in Russia are finding favor among a specific market segment that values a blend of efficiency, comfort, and performance. Sedans, known for their global popularity, are now gaining traction in their electric avatars among Russian buyers who appreciate the traditional vehicle style coupled with the advantages of electric propulsion. This trend is expected to grow further as both international and domestic manufacturers introduce more electric models to cater to diverse consumer demands.
  • While SUVs and MPVs currently represent a smaller segment of Russia's electric vehicle market, their popularity is on the rise. This is driven by the demand for larger family vehicles and the need for robust performance in diverse terrains and harsh weather conditions. Electric SUVs, in particular, offer the space, safety, and versatility that resonate with Russian families, all while upholding their commitment to environmental responsibility.
Russia Electric Cars Market

Russia Electric Cars Market Trends

Consistent growth in vehicle electrification across all categories reflects Russia's shift toward sustainable transportation and global electrification objectives

  • Russia's shift toward electrification is evident across various vehicle categories. The share of electric passenger cars doubled from 2% in 2022 to 4% in 2023. Light commercial vehicles (LCVs) saw a more significant surge, with their electrification rate rising from 0.20% in 2022 to 1.09% in 2023. Medium and heavy-duty trucks (M&HDT) began their electrification journey in 2023, reaching a 0.10% share. Electric buses also witnessed a consistent climb, with their ratio rising from 0.50% in 2022 to 1.96% in 2023.
  • Russia has been steadily embracing electric vehicles. The share of electric passenger cars rose from 2% in 2017 to 5% in 2022. LCVs saw a similar trend, growing from 0.20% in 2017 to 1.98% in 2022. The M&HDT segment remained untouched until 2022 when it introduced electrification at a 0.10% rate. Buses followed suit, increasing from 0.50% in 2017 to 3.42% in 2022. Two-wheelers, known for their rapid growth, saw electric vehicles capturing 1.50% in 2017 and surging to 7.81% by 2022.
  • Projections indicate a continued surge in electrification across all vehicle categories in Russia. By 2030, electric passenger cars are expected to account for 12% of the market. LCVs are projected to reach 6.00%. The M&HDT segment is set to expand its electrification presence, aiming for a 4.00% share by 2030. Buses are forecasted to hit a 10.00% electrification mark by the end of the decade. The two-wheelers segment is poised for a significant leap, targeting a 22.00% share by 2030. These trends underscore Russia's growing emphasis on sustainable transportation, emissions reduction, and alignment with global electrification targets.
Russia Electric Cars Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Russia's population, affected by an aging demographic and declining birth rates, is expected to decrease to approximately 140.65 million by 2030
  • Replacement demand influenced by technological advancements and government policies expected to keep Russia's CVP stable
  • Russia's MaaS Resilience: Past Growth and Promising Projections in Shared Mobility
  • EV battery pack prices in Russia are influenced by import costs, local manufacturing capabilities, and government incentives.
  • Used car sales in Russia are robust, driven by economic factors that make them a more affordable option than new vehicles.
  • Russian automotive production shows a significant industry-wide decline, reflecting external economic and geopolitical challenges
  • Russia's GDP per capita, after a 2023 decline, is projected to rise, reaching USD 16,531.68 by 2030
  • Russia's inflation, tied to energy markets, is anticipated to stabilize, vital for economic equilibrium
  • Russia is embarking on a green transportation revolution, with significant growth in its EV charging infrastructure since 2022
  • Russia's vehicular electrification journey to witness moderate growth
  • Russia's automotive financing rates have shown significant volatility over recent years, largely driven by domestic policy shifts and broader economic challenges, including the impacts of the COVID-19 pandemic.

Russia Electric Cars Industry Overview

The Russia Electric Cars Market is fragmented, with the top five companies occupying 21.81%. The major players in this market are Chery Automobile Co. Ltd., Great Wall Motor Company Ltd (GWM), Tesla Inc., Toyota Motor Corporation and Volkswagen AG (sorted alphabetically).

Russia Electric Cars Market Leaders

  1. Chery Automobile Co. Ltd.

  2. Great Wall Motor Company Ltd (GWM)

  3. Tesla Inc.

  4. Toyota Motor Corporation

  5. Volkswagen AG

Russia Electric Cars Market Concentration

Other important companies include Hyundai Motor Company.

*Disclaimer: Major Players sorted in alphabetical order.

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Russia Electric Cars Market News

  • November 2023: Hyundai Motor's Genesis division has opened a new showroom in New York, the United States.
  • November 2023: Tesla has acquired US-based start-up SiILion battery (Battery manufacturer) to excel the battery production in US.
  • November 2023: In Argentina, Volkswagen debuted the brand-new Nivus. Both the Comfortline and Highline models of the VW Nivus will be offered in Argentina. They both come equipped with a 1.0-liter TSi three-cylinder engine that generates 116 horsepower and 200 Nm of torque and is coupled to a six-speed automated transmission.

Free with this Report

For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.

Russia Electric Cars Market
Russia Electric Cars Market
Russia Electric Cars Market
Russia Electric Cars Market

Russia Electric Cars Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. REPORT OFFERS

3. INTRODUCTION

  • 3.1 Study Assumptions & Market Definition
  • 3.2 Scope of the Study​
  • 3.3 Research Methodology

4. KEY INDUSTRY TRENDS

  • 4.1 Population
  • 4.2 GDP Per Capita
  • 4.3 Consumer Spending For Vehicle Purchase (cvp)
  • 4.4 Inflation
  • 4.5 Interest Rate For Auto Loans
  • 4.6 Shared Rides
  • 4.7 Impact Of Electrification
  • 4.8 EV Charging Station
  • 4.9 Battery Pack Price
  • 4.10 New Xev Models Announced
  • 4.11 Used Car Sales
  • 4.12 Fuel Price
  • 4.13 Oem-wise Production Statistics
  • 4.14 Regulatory Framework
  • 4.15 Value Chain & Distribution Channel Analysis

5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

  • 5.1 Vehicle Configuration
    • 5.1.1 Passenger Cars
    • 5.1.1.1 Hatchback
    • 5.1.1.2 Multi-purpose Vehicle
    • 5.1.1.3 Sedan
    • 5.1.1.4 Sports Utility Vehicle
  • 5.2 Fuel Category
    • 5.2.1 BEV
    • 5.2.2 HEV
    • 5.2.3 PHEV

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 6.4 Company Profiles
    • 6.4.1 Chery Automobile Co. Ltd.
    • 6.4.2 Great Wall Motor Company Ltd (GWM)
    • 6.4.3 Hyundai Motor Company
    • 6.4.4 Tesla Inc.
    • 6.4.5 Toyota Motor Corporation
    • 6.4.6 Volkswagen AG
  • *List Not Exhaustive

7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

8. APPENDIX

  • 8.1 Global Overview
    • 8.1.1 Overview
    • 8.1.2 Porter’s Five Forces Framework
    • 8.1.3 Global Value Chain Analysis
    • 8.1.4 Market Dynamics (DROs)
  • 8.2 Sources & References
  • 8.3 List of Tables & Figures
  • 8.4 Primary Insights
  • 8.5 Data Pack
  • 8.6 Glossary of Terms
** Subject To Availablity

List of Tables & Figures

  1. Figure 1:  
  2. RUSSIA ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
  1. Figure 2:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 3:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 4:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 5:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 6:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 7:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
  1. Figure 8:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 9:  
  2. RUSSIA ELECTRIC CARS MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
  1. Figure 10:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 11:  
  2. RUSSIA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
  1. Figure 12:  
  2. RUSSIA ELECTRIC CARS MARKET, VOLUME IN UNITS, 2017 - 2030
  1. Figure 13:  
  2. RUSSIA ELECTRIC CARS MARKET, VALUE IN USD, 2017 - 2030
  1. Figure 14:  
  2. RUSSIA ELECTRIC CARS MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 15:  
  2. RUSSIA ELECTRIC CARS MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
  1. Figure 16:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 17:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 18:  
  2. RUSSIA ELECTRIC CARS MARKET, BY HATCHBACK, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 19:  
  2. RUSSIA ELECTRIC CARS MARKET, BY HATCHBACK, BY VALUE IN USD, 2017 - 2030
  1. Figure 20:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 21:  
  2. RUSSIA ELECTRIC CARS MARKET, BY MULTI-PURPOSE VEHICLE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 22:  
  2. RUSSIA ELECTRIC CARS MARKET, BY MULTI-PURPOSE VEHICLE, BY VALUE IN USD, 2017 - 2030
  1. Figure 23:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 24:  
  2. RUSSIA ELECTRIC CARS MARKET, BY SEDAN, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 25:  
  2. RUSSIA ELECTRIC CARS MARKET, BY SEDAN, BY VALUE IN USD, 2017 - 2030
  1. Figure 26:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 27:  
  2. RUSSIA ELECTRIC CARS MARKET, BY SPORTS UTILITY VEHICLE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 28:  
  2. RUSSIA ELECTRIC CARS MARKET, BY SPORTS UTILITY VEHICLE, BY VALUE IN USD, 2017 - 2030
  1. Figure 29:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 30:  
  2. RUSSIA ELECTRIC CARS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 31:  
  2. RUSSIA ELECTRIC CARS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
  1. Figure 32:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 33:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 34:  
  2. RUSSIA ELECTRIC CARS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 35:  
  2. RUSSIA ELECTRIC CARS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 36:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 37:  
  2. RUSSIA ELECTRIC CARS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 38:  
  2. RUSSIA ELECTRIC CARS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 39:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 40:  
  2. RUSSIA ELECTRIC CARS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 41:  
  2. RUSSIA ELECTRIC CARS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 42:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 43:  
  2. RUSSIA ELECTRIC CARS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 44:  
  2. RUSSIA ELECTRIC CARS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 45:  
  2. RUSSIA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 46:  
  2. RUSSIA ELECTRIC CARS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
  1. Figure 47:  
  2. RUSSIA ELECTRIC CARS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
  1. Figure 48:  
  2. RUSSIA ELECTRIC CARS MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Russia Electric Cars Industry Segmentation

Passenger Cars are covered as segments by Vehicle Configuration. BEV, HEV, PHEV are covered as segments by Fuel Category.

  • While Russia's electric car market is still in its early stages, it is showing promising signs of growth and a diverse range of vehicle configurations. These include hatchbacks, sedans, SUVs, and MPVs. Hatchbacks, known for their affordability and practicality, often serve as the entry point for markets embracing electric vehicles. In Russia, electric hatchbacks are gaining popularity, especially among urban dwellers in cities like Moscow and Saint Petersburg, who seek compact and eco-friendly transportation solutions, given the challenges of parking and traffic congestion.
  • Electric sedans in Russia are finding favor among a specific market segment that values a blend of efficiency, comfort, and performance. Sedans, known for their global popularity, are now gaining traction in their electric avatars among Russian buyers who appreciate the traditional vehicle style coupled with the advantages of electric propulsion. This trend is expected to grow further as both international and domestic manufacturers introduce more electric models to cater to diverse consumer demands.
  • While SUVs and MPVs currently represent a smaller segment of Russia's electric vehicle market, their popularity is on the rise. This is driven by the demand for larger family vehicles and the need for robust performance in diverse terrains and harsh weather conditions. Electric SUVs, in particular, offer the space, safety, and versatility that resonate with Russian families, all while upholding their commitment to environmental responsibility.
Vehicle Configuration Passenger Cars Hatchback
Multi-purpose Vehicle
Sedan
Sports Utility Vehicle
Fuel Category BEV
HEV
PHEV
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Market Definition

  • Vehicle Type - The category includes passenger cars.
  • Vehicle Body Type - This include various body types such as Hatchbacks, Sedans, Sports Utility Vehicles, and Multi-purpose Vehicles.
  • Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
Keyword Definition
Electric Vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
BEV A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids.
Plug-in Hybrid EV A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally.
Internal combustion engine An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel.
Hybrid EV A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking.
Commercial Vehicles Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV).
Passenger Vehicles Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
Light Commercial Vehicles Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category.
M&HDT Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category.
Bus A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses.
Diesel It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed.
Gasoline It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug.
LPG It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study.
CNG It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines.
HEV All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices.
PHEV PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly.
Hatchback These are compact-sized cars with a hatch-type door provided at the rear end.
Sedan These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage.
SUV Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles.
MPV These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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Russia Electric Cars Market Research FAQs

The Russia Electric Cars Market size is expected to reach USD 6.02 billion in 2024 and grow at a CAGR of 32.77% to reach USD 32.96 billion by 2030.

In 2024, the Russia Electric Cars Market size is expected to reach USD 6.02 billion.

Chery Automobile Co. Ltd., Great Wall Motor Company Ltd (GWM), Tesla Inc., Toyota Motor Corporation and Volkswagen AG are the major companies operating in the Russia Electric Cars Market.

In the Russia Electric Cars Market, the undefined segment accounts for the largest share by null.

In 2024, the undefined segment accounts for the fastest growing by null in the Russia Electric Cars Market.

In 2023, the Russia Electric Cars Market size was estimated at 6.02 billion. The report covers the Russia Electric Cars Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Russia Electric Cars Market size for years: 2024, 2025, 2026, 2027, 2028, 2029 and 2030.

Russia Electric Cars Industry Report

Statistics for the 2023 Russia Electric Cars market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Russia Electric Cars analysis includes a market forecast outlook to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Russia Electric Cars Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

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