Massachusetts State Has Planned to Offer Rebate of up to USD2500 on Electric Vehicles
United States: The Massachusetts
state government has decided to offer rebates up to USD2,500 on purchase of
electric vehicles. The electric vehicles qualified for rebate includes 25
models that use electric battery, plug-in hybrid and fuel cell vehicles. The
rebate offered would lead to increase in sales of electric vehicles which would
drive the market for electric vehicles infrastructure in the region.
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.