Thirty Cities of US Plans to Invest USD10 Billion on Electric Vehicles
The increasing
penetration of electric vehicles would promulgate the market for EV
infrastructure business in the region
United States: Thirty cities in the United
States including New York, Los Angeles, Chicago and others have planned to
invest around USD10 billion on electric cars and trucks which would eventually lead
the automakers to believe that there is healthy demand for low emission
vehicles in the country.
Moreover, the municipal authorities of cities have sought
the opinion of automakers related to overall cost and feasibility of about 114,000
electric vehicles as police cruisers, street sweepers and trash haulers. The
increasing penetration of electric vehicles would promulgate the EV
infrastructure business in the region in coming years.
TechSci Research depicts that the government of
various countries across the globe have been focusing on the reduction of
harmful gas emissions, mainly rising from the automobile sector Consequent to
which, the government is formulating policies to increase the penetration of
electric vehicles in the transportation sector of their countries. With
increasing focus of government authorities to promote the usage of electric
vehicles, is likely to expand the demand for electric vehicle infrastructure 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.