The Local Governments in the US Have Planned to Build an Electric Vehicle Corridor

United States: The local governments of Colorado, Utah and Nevada in the US have planned to develop an electric vehicle corridor which would promote the use of electric vehicles in the region. The development of electric vehicle corridor will include installation charging network in more than 2,000 miles of highway. Colorado state government offers USD5,000 tax credit on purchase of electric vehicles and the region has witnessed huge surge in number of electric vehicles between 2011 and 2016 i.e. from less than 100 to 8,000. The increase in deployment of electric vehicles and government policy to promote electric vehicles in the region would promulgate the market for electric vehicle infrastructure in the region in near future.

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.