Tesla announced to arrive the India Electric Car Market
Published: Jan 2021
The India electric car market is anticipated to grow at an exponential CAGR during the forecast period (2019-2025). In India, cohesive government policies, and the presence of a huge customer base are the prominent factors that are promoting demand for clean and green energy cars. For instance, as a part of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme an amount of up to $2,000 will be offered as a subsidiary on an electric car.
Ingress of Uber in Electric Rickshaw Segment to Encourage India Electric Rickshaw Market
Published: Jan 2021
India electric rickshaw market is anticipated to grow at a considerable CAGR during the forecast period (2019-2025). Rapid urbanization, rise in demand for improved public transport along with cohesive government initiatives and schemes are promoting the adoption of electric vehicles in the country.
Expansion of Electric Vehicle Battery Plant to Drive India Electric Vehicle Battery Market
Published: Jan 2021
India electric vehicle (EV) battery market is anticipated to grow at a significant CAGR during the forecast period (2019-2025). The existence cohesive government programs and initiatives are driving the sale and manufacturing of EVs in India. It is a major factor that is generating the demand for EV batteries in the country.
FAME Programme to Drive India Electric Vehicle Charger Market
Published: Jan 2021
India electric vehicle charger market is anticipated to grow at a CAGR of over 25.0% during the forecast period, 2019-2025. The cohesive government regulations to increase sales of EVs are a key factor creating demand for charging infrastructure in the country. Under Phase-II of the FAME India Scheme, the Government of India (GoI) intends to support the development of EV charging infrastructure by extending capital grants to organizations for promoting the use of electric vehicles.
New EV Battery Manufacturing Facility to Promote the US Electric Vehicle Battery Market
Published: Jan 2021
The US electric vehicle (EV) battery market is anticipated to grow at a significant CAGR of 11.0% during the forecast period (2019-2025). The US is a key market for the electric vehicle however the sales of the EV are quite low in the country as compared to other parts of the globe. It is majorly due to high cost of electric vehicle, lack of any nation-wide subsidy program and limited range of EVs.
UK Electric Vehicle Market Witnessed New Record Sales in 2020
Published: Jan 2021
UK electric vehicle market is expected to grow at a CAGR of 23.0% during the forecast period. The automotive market for the country declined due to the COVID-19 pandemic and the lockdown announced due to the same. UK annual sales of vehicle sales drop to a record low to 1.63 million in 2020 with a downfall of 29.4% YoY.
Government Subsidies Will Support the South Korea Electric Vehicle Market
Published: Jan 2021
South Korea electric vehicle market is expected to grow at a CAGR of 19.0% during the forecast period. The country is one of the key locations for the EV as it homes some of the prominent EV manufacturers including Hyundai and Kia Motors. The high average price of the vehicle, fast-developing charging infrastructure, and government support for the EV purchase to the customer are some of the major factors for the EV industry growth in the country.
Government Support Driving the South Korea Electric Vehicle Charger Market
Published: Jan 2021
South Korea electric vehicle charger market is expected to grow at a CAGR of 20.0% during the forecast period. Hyundai Motor aims to develop nine types of new EVs by 2021 whereas Kia Motors will introduce seven new EV models by 2027. With the increasing sales of EVs, a significant demand for charging infrastructure for home as well as public and commercial places will arrive in the country.
Exponential Growth in EV Sales Will Boost the Germany Electric Vehicle Motor Market
Published: Jan 2021
Germany Electric Vehicle Motor market is anticipated to grow at a significant CAGR of 20.0% during the forecast period (2020-2026). The country is the largest automotive manufacturer in Europe, moreover, the country has witnessed an exponential growth in EV sales in the country in 2020. Though the vehicle industry in Germany has witnessed a downfall of around 20.0% mainly due to the COVID-19 pandemic, the EV sales have tripled in 2020.
Government Subsidies Aid France Electric Vehicle Market in 2020
Published: Jan 2021
France electric vehicle market is expected to grow at a CAGR of 18.0% during the forecast period. Due to the COVID-19 pandemic, and lockdowns announced to control the spread of the pandemic, a negative effect on the overall industry was witnessed in the country in 2020. In the whole of 2020, the French vehicle sales declined by 25.5% YoY to 1.65 million as compared to 2.21 million units sold in 2019.