Industry News

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.

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