The electric vehicle (EV) market is growing at an increased pace, covering majorly Asian-Pacific regions, with the primary reason being its government support and assistance and the desire for technological improvements. Lower charging durations with its fast charge capabilities, longer travel range, and almost 60% lesser costs compared to petrol vehicles are some of the major benefits included.
Governments worldwide are implementing certain policies to promote EV sanctions, considering all its benefits and also taking into account the global climate changes. Among these, major continents, including North America and Europe, are experiencing significant changes.
Advancements in EV technologies, such as autonomous driving, connected car technologies, and a lot of other features, stand as the major pillars for its increased popularity in theEV market.
The growth and expansion of charging facilities and infrastructure will be crucial factors for the growth of EVs in the Indian market. Hence, investors have anticipated the growth in the EV market from other traditional vehicles.