The electric vehicle (EV) market is booming, and Mullen Automotive [Nasdaq: MULN] is making waves with its recent progress in EV sales and reduction in monthly burn rate. As we look ahead to 2025, David Michery, CEO and chairman of Mullen Automotive, shares his insights on the trends that will shape the EV market this year.
One major trend that Michery predicts for 2025 is a sharp decrease in the total cost of ownership for EVs. Despite the possible repeal of the federal EV tax credit, state-level incentives, manufacturer subsidies, and private partnerships will make EVs more affordable. With reduced battery costs, cheaper maintenance, and lower energy expenses, EVs will become the most cost-effective choice for businesses and consumers.
Another trend to watch for is the expansion of commercial EV use cases. While transportation and delivery will remain prominent, new applications such as airport shuttles, university campus logistics, home services, and refrigerated delivery will emerge. Airports and universities are expected to adopt EVs for cleaner and quieter transit, while innovations in temperature-controlled EVs will revolutionize cold-chain logistics.
2025 is also expected to be the year of the battery, with advancements in solid-state polymer batteries that offer higher energy density and faster charging. These improvements will make EVs more reliable and competitive with internal combustion vehicles, leading to lower maintenance costs for fleet owners.
As we look forward to a year of innovation and transformation in the EV market, Mullen Automotive continues to make strides in the industry. Stay tuned for more updates on the exciting developments in the world of electric vehicles.
