New Zealand Electric Vehicle infrastructure market is set to expand by the end of 2021

New Zealand: German auto giant BMW has partnered with Charge Net NZ to build 100 Direct Current (DC) charging station in New Zealand to provide fast charging infrastructure for electric vehicles in the country. The development of fast charging infrastructure in the country would increase the uptake of electric vehicles in the country and the move has been welcomed by the government. The government of New Zealand has set a target to double the number of electric vehicles by the end of 2021 and ensure electric vehicles comprise of 2% of the country's current light vehicle fleet.

TechSci Research depicts that the governments across the globe have focused on reduction of harmful gas emissions from the automobile sector, thereby formulating policies to increase the penetration of electric vehicles in the transportation sector. With increasing focus of governments across the globe to promote the use of electric vehicles the demand for electric vehicle infrastructure would increase in near future.

According to released report of TechSci Research “Global Electric Vehicle Infrastructure Market Forecast & Opportunities, 2021”, the global electric vehicle infrastructure market is projected to grow at a CAGR of 27% by the end of 2021. The growth is expected on account of increasing number of electric vehicles globally and governments’ policy to promote the adoption of electric vehicles. The development of battery technologies and enhancement in charging protocols is a big boost for electric vehicle infrastructure. The development of battery technology and universal charging protocols would lead to upsurge in demand for electric vehicles and expansion in market for electric vehicle infrastructure globally.