Applications: EV

Globally Pure BEV Sales Are Growing Whereas PHEV and EREV/REEV Sales Are Stagnating Rapid rise in EREVs/REEVs* in 2024 flattened in 2025. EREVs are most meaningful in large, heavy vehicles. With the broader market moving towards affordability and smaller battery packs, EREVs serve a niche market. BEV Battery Electric Vehicle PHEV Plug-In Hybrid Electric Vehicle EREV Extended Range Electric Vehicle REEV Range Extended Electric Vehicle

Source: Benchmark Mineral Intelligence Distinguished Partner). For more information, visit https://www.benchmarkminerals.com. 2025 YTD is updated as of November 2025. | EREV = extended range electric vehicle; REEV = range-extended electric vehicle

Extracted from the PDF; charts and images may read imperfectly.