The global power industry experienced a 70% decline in the number of electric vehicles-related patent applications in Q2 2023 compared with the previous quarter. The total number of electric vehicles-related grants dropped by 69% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Electric Vehicles (EV) in Insurance – Thematic Research report explains the dynamics of EV in the power market, highlighting the key trends, impact of EV on value chain and leading EV companies in the power market. Buy the report here.
Notably, the number of electric vehicles-related patent applications in the power industry was 547 in Q2 2023, versus 1,812 in the prior quarter.
The top five companies accounted for 13% of patenting activity
Analysis of patenting activity by companies shows that Huawei Investment filed the most electric vehicles patents within the power industry in Q2 2023. The company filed 16 electric vehicles-related patents in the quarter, compared with 45 in the previous quarter. It was followed by State Grid Corporation of China with 15 electric vehicles patent filings, Porsche Automobil Holding (15 filings), and Panasonic (14 filings) in Q2 2023.
Patenting activity was driven by the US with a 42% share of total patent filings
The largest share of electric vehicles related patent filings in the power industry in Q2 2023 was in the US with 42%, followed by China (35%) and Japan (4%). The share represented by the US was 19% higher than the 22% share it accounted for in Q1 2023.
For further understanding of GlobalData's Electric Vehicles (EV) in Power - Thematic Research buy the report here.