TechnoMark News

 Electric vehicles (EVs) of all types have been growing as the share of automobile sales in all key automotive markets. The penetration pivots on the growing government incentives, notably subsidies and exemption of road taxes. Of note, state policies are offering subsidies for electric two-wheelers based on basis of the size of their lithium-ion battery packs, promoting adoption of products in the  electric vehicle market . Policymakers in developed and emerging economies are offering financial incentives, which help market players strengthen charging station infrastructure and vehicle dealership training. Leading carbon emitters of the world are embracing electrification of road transport as a key step toward meeting their climate goals. Various legislations notably in India, China, and the U.S. are thus promoting  zero-emission vehicle  (ZEV) standards, thereby catalyzing automotive manufacturers to increase the production of electric vehicles. In turn...

  According to the report, the global  electric vehicle market  is projected to surpass US$ 1.53 Bn by 2031, expanding at a CAGR of 26.62% during the forecast period. An electric vehicle operates on an electric motor, instead of an internal-combustion (I.C.) engine that generates power by burning a mix of fuel and gases. These vehicles have a battery and an electric motor to either assist the I.C engine or fully drive the vehicle. Transportation is a leading cause for rise in levels of pollution worldwide. Tailpipe emissions such as carbon dioxide, nitrogen oxides, hydrocarbons, carbon monoxide, and sulfur dioxide cause respiratory illnesses, heart conditions, and mental illness, which result in increased healthcare burden. These concerns are prompting people and automobile manufacturers to prefer fuel-efficient and environmental solutions. Automakers are adopting vehicle electrification strategy to reduce their carbon footprint and comply with governm...

  According to the report, the global  electric vehicle market  is projected to surpass  US$ 1.53 Bn  by 2031, expanding at a CAGR of  26.62%  during the forecast period. An electric vehicle operates on an electric motor, instead of an internal-combustion (I.C.) engine that generates power by burning a mix of fuel and gases. These vehicles have a battery and an electric motor to either assist the I.C engine or fully drive the vehicle. Transportation is a leading cause for rise in levels of pollution worldwide. Tailpipe emissions such as carbon dioxide, nitrogen oxides, hydrocarbons, carbon monoxide, and sulfur dioxide cause respiratory illnesses, heart conditions, and mental illness, which result in increased healthcare burden. These concerns are prompting people and automobile manufacturers to prefer fuel-efficient and environmental solutions. Automakers are adopting vehicle electrification strategy to reduce their carbon footprint and comply with gov...