News
Global Electric Vehicle market size to swell by five-times to $823.74B by 2030: study
A new study suggests that the global electric vehicle market will multiply in valuation by five times by 2030, based on new data acquired by Allied Market Research.
The 2020 EV market size was valued at $163.01 billion, a sizeable figure considering the sector’s relatively low share compared to that of combustion engine vehicles. With several large-scale automotive companies with storied histories transitioning to electric vehicles, these companies will supplement the smaller, EV-focused companies, like Tesla, Rivian, and Lucid, contributing large-scale production operations with relatively limitless amounts of capital.
The new study says that the global EV sector will reach $823.74 billion by 2030, at a compound annual growth rate (CAGR) of 18.2 percent.
The report also includes both PHEVs and FCEVs in the overall EV sector. However, the study also confirms that BEVs have dominated the sector, “accounting for more than three-fourths of the global electric vehicle market.”
According to IBISWorld.com, the global automotive industry will be worth $2.8 trillion this year, a 4 percent increase from its valuation in 2021. More competition, more technological advances, and an everchanging background of consumer wants are driving the electrification industry to grow exponentially over the next several decades. However, in the short term, as in up until the end of the decade, Allied Market Research expects the market to saturate and expand, especially as the cost of driving a combustion engine vehicle continues to bubble, giving consumers more incentive to drive an electric powertrain.
Allied Market Research suggests that there are several factors that are driving consumers to consider EVs, but the biggest seems to be the issue of cost.
“Surge in fuel costs, rise in need for fuel-efficient, low-emission, and high-performance vehicles, and strict governmental rules about vehicle emissions drive the growth of the global electric vehicle market. Moreover, reduction in cost of electric vehicle batteries supplements the market growth,” the report states. “However, high manufacturing cost, lack of infrastructure for charging, and range anxiety and serviceability hinder the market growth. On the contrary, technological advancements, development of self-driving electric vehicle technology, and proactive government initiatives are expected to open new opportunities for the market players in the future.”
The study also looks into the regions that are highly associated with EVs, like Europe and Asia. Allied Market Research said:
“By region, the market across Asia-Pacific, followed by Europe and North America, held the largest share in 2020, accounting for nearly half of the market, due to rise in vehicle population and surge in vehicle standards. However, the global electric vehicle market across Europe is anticipated to register the highest CAGR of 20.6% during the forecast period, owing to rise in environmental concerns and strict emission norms set by European governments and environmental agencies.”
Electric vehicles outsell ICE cars in Norway, forecasting a combustion engine decline
Without a doubt, the EV sector is primed for a major expansion in the coming years. With legacy automakers like Ford, General Motors, and others committing to fully-electric lineups in various timeframes, the global EV industry has nowhere to go but up. Additionally, the legacy automakers are riding the coattails of the full-EV manufacturers, who are disrupting the industry more than ever before. In perhaps the largest technological transition to a sector in history, the automotive sector is looking to basically rework its entire concentration in the next 10 to 15 years. As the transition becomes more prevalent moving forward, the combustion engine market will begin to hinder, while EVs continue to snap up more of the global market share.
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Elon Musk
How much of SpaceX will Elon Musk own after IPO will surprise you
SpaceX’s IPO filing confirms Musk will maintain his voting power to make key decisions for the company.
Elon Musk will retain dominant voting control of SpaceX after it goes public, according to the company’s IPO prospectus that was filed with the SEC. The filing reveals a dual-class equity structure giving Class B shareholders 10 votes each, concentrating power with Musk and a handful of other insiders, while Class A shares sold to public investors carry one vote.
Musk holds approximately 42% of SpaceX’s equity and controls roughly 79% of its votes through super-voting shares. He will simultaneously serve as CEO, CTO, and chairman of the nine-member board after the listing. Beyond that, the filing includes provisions that may limit shareholders’ influence over board elections and legal actions, forcing disputes into arbitration and restricting where they can be brought.
The case for Musk holding this level of control is grounded in SpaceX’s actual history. The company’s most important bets, from reusable rockets to a global satellite internet constellation, were decisions that ran against conventional aerospace thinking and would likely have faced resistance from a board accountable to investor gains. Fully reusable rockets were considered economically irrational by established industry players for years. Starlink, which now generates over $4 billion in annual operating profit, was widely dismissed as financially unviable when it was proposed. The argument for concentrated founder control seems straightforward, and the decisions that built SpaceX into what it is today required someone willing to ignore consensus and absorb years of losses.
SpaceX files confidentially for IPO that will rewrite the record books
For context, Musk’s position is significantly more dominant than Zuckerberg’s at Meta. The comparison with Tesla is also worth noting. When Tesla did its IPO in 2010, it did not issue dual-class shares. Musk has only recently pushed for enhanced voting protection, proposing at least 25% control at Tesla in 2024 after selling shares to fund his Twitter acquisition left him with around 13%.
SpaceX has clearly learned from that experience and structured the IPO differently by planning to allocate up to 30% of shares to retail investors, roughly three times the typical norm for a large offering. The roadshow is expected to begin the week of June 8, with a Nasdaq listing rumored to be a $1.75 trillion valuation and a $75 billion raise.
News
Tesla bolsters App with new safety, insurance, and storage features
The Tesla Smartphone App is one of the biggest and best features and advantages owners have. Everything from moving the vehicle with Summon, to getting Navigation sent to the car, to preconditioning the cabin can be done with the Tesla App.
Tesla is bolstering its smartphone App with a series of new features to streamline operations for owners. The new additions include fixes to safety, its in-house insurance offering, and storage management for Dashcam clips.
The Tesla Smartphone App is one of the biggest and best features and advantages owners have. Everything from moving the vehicle with Summon, to getting Navigation sent to the car, to preconditioning the cabin can be done with the Tesla App.
But in classic Tesla fashion, the company is aiming to improve the offerings of the app, and it is doing so with a handful of new features. They were first discovered by Tesla App Updates.
Tesla Insurance – Safety Score 3.0
This is truly part of the Spring 2026 Update, but Tesla has now given more transparency on how FSD has saved people money on their premiums.
Tesla intertwines FSD with in-house Insurance for attractive incentive
Additionally, Tesla is now automatically awarding a Safety Score of 100 for every mile traveled on Full Self-Driving (Supervised).
Update Tracking
Updates traditionally appear on the App or on the Center Touchscreen in the car. There is nothing better than seeing that Green Arrow at the top of the screen, or opening your app and seeing that there is a Software Update available.
Now, there will be no need to manually check the app and initiate the download. Tesla is enabling a new feature that will automatically download updates for you.
Storage Management
Your USB drive can now be remotely formatted, and old Dashcam clips can be deleted straight from the phone. When you record a lot of things using the Dashcam feature, that storage fills up pretty quickly.
Now, manually deleting the Dashcam videos is easier than ever.
Trailer Light Test
This is perhaps the coolest and most crucial addition to the Tesla App, as those who tow and haul will now be able to trigger a diagnostic light sequence from the app while standing behind your trailer to ensure the brake lights work.
Verifying your trailer lights are connected properly and operating normally and as intended is normally a massive hassle.
Now, a new trigger will be available to initiate a diagnostic light sequence directly from your phone.
News
Tesla is building private Superchargers just for Robotaxi
For Tesla, these Robotaxi-only Superchargers represent more than convenient parking spots. They are the first bricks in a vertically integrated autonomy platform—vehicles, energy, and software working in seamless concert.
Tesla is starting to build out Robotaxi-only Superchargers as the company is truly leaning on its Full Self-Driving and autonomy efforts to solve passenger travel.
Last week, the company filed pre-permits in Arizona’s East Valley for two dedicated, non-public charging sites stocked with next-generation V4 Superchargers. The filings mark the first visible evidence of purpose-built infrastructure exclusively for autonomous Tesla vehicles, as they state they are not for public use.
In Chandler, Tesla plans to install 56 V4 stalls on an industrial parcel along South Roosevelt Avenue. Site documents describe a high-capacity setup supported by new SRP transformers, switching cabinets, and upgrades to existing underground lines.
A second site in Mesa, located at 5349 E Main Street in another industrial zone, carries the same private-use designation. Both locations sit well away from public roads and customer traffic, ensuring the chargers serve only Tesla’s internal fleet.
The sites were spotted by Supercharger observer MarcoRP.
On the same day, Tesla also submitted a draft for another proposed location in the city of Mesa, also listed as private use.
This site is located in an industrial area on the east side of the city. pic.twitter.com/jCC1IsKKKw
— MarcoRP (@MarcoRPi1) April 17, 2026
Phoenix’s East Valley offers an ideal launchpad for Robotaxi Supercharging: the location has a clean, grid-like street layout and year-round mild weather that minimizes camera degradation. Additionally, Arizona has welcomed self-driving pilots since Waymo’s early days.
By securing private depots now, Tesla can optimize charging cycles, reduce downtime, and maintain full control over vehicle hygiene and security, critical factors for high-utilization Robotaxi operations.
The type of Supercharger is telling as well, as they are V4, Tesla’s fastest and most efficient buildout.
V4 stalls deliver faster power and support bidirectional charging, features that will let idle Robotaxis feed energy back to the grid during off-peak hours. Because the sites are closed to the public, Tesla avoids congestion, vandalism risks, and the scheduling conflicts that plague shared stations.
The timing is telling. With unsupervised Full Self-Driving hardware already rolling out across the lineup and Cybercab production targets looming, Tesla is shifting from vehicle development to ecosystem readiness.
Charging infrastructure has historically been the gating factor for ride-hailing scale; building it ahead of the vehicles signals confidence that regulatory and technical hurdles are nearing resolution.
Tesla has been spotted testing Cybercab units in Arizona over the past few months, as well.
Interestingly, the permits show V4 Superchargers in the plans, although Cybercab will likely utilize wireless charging:
Tesla Cybercab spotted with interesting charging solution, stimulating discussion
For Tesla, these Robotaxi-only Superchargers represent more than convenient parking spots. They are the first bricks in a vertically integrated autonomy platform—vehicles, energy, and software working in seamless concert.
It appears Tesla is preparing to begin building out Robotaxi-only Superchargers to avoid the congestion and keep its autonomous fleet charged up to get ride-hailers to their destinations.
How much of SpaceX will Elon Musk own after IPO will surprise you
Tesla bolsters App with new safety, insurance, and storage features
