Industry News

10 New Fast Charging Stations to be Installed on Trans-Canada Highway

The increasing focus on deployment of fast charging network would promulgate the market for EV infrastructure business

Canada: The Federal Government of Canada has partnered with NB Power for deployment of 10 new fast charging stations in New Brunswick. The government has announced investments of USD335 thousand to build electric vehicle charging infrastructure to support deployment of electric vehicles in New Brunswick province. The government has focused on development of electric vehicle infrastructure in the country which would provide a big thrust to its business 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.

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