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The launch of electric vehicles to drive the EV infrastructure market

The launch of microbus as electric vehicle by Volkswagen is a big boost for electric vehicle infrastructure market

USA: The old model of microbus offered by Volkswagen has been re-introduced as electric vehicle ahead of the North American International Auto Show in Detroit. The electric microbus has a range of 270 miles per charge which would enable it to travel long distances. The increasing penetration of electric vehicles is a big boost for EV infrastructure market because with deployment of electric vehicles, the demand for charging infrastructure would increase.

TechSci Research depicts that the governments across the globe are focusing on reducing 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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