Key Dynamics Driving the Demand for Electric Vehicle Market in the Global Automotive Industry
The Global Electric Vehicle (EV) market is driven by government support in the form of subsidies, grants, and tax rebates. Improving charging infrastructure, increasing vehicle range and reducing cost of batteries has fueled the demand for EVs across the globe. Global EV sales in 2016 reached to 2.25 Million units, and are projected to grow at a CAGR of 20.68% during the forecast period.
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