The global Electric Vehicle Infrastructure Market is Set to Expand by the end of 2021
South Korea: South Korean company
known as LG Chem Ltd which is the battery supplier for General Motors (GM) Co’s
upcoming Bolt electric vehicles is expecting that GM would sell more than
30,000 cars next year. GM would be launching a new model of electric vehicle
i.e. subcompact Chevrolet Bolt electric vehicle in coming months which will be
having a range of 238 miles on a full charge.
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 creating the demand for of
electric vehicle infrastructure globally. 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.