Electric Vehicle - Worldwide

Electric Vehicle Market Definition

Vehicles that can be propelled by an electric motor that uses electricity from a battery and can be charged externally are included in the market for electric vehicles. Because they can charge at home rather than paying for gas, EV drivers save money on fuel. Electric automobiles have fewer parts that can break down and don't require oil changes, which lowers maintenance costs. As technology has advanced, its battery lowers the cost of automobiles.   

Electric vehicles will become more convenient for extended travel with the development of charging infrastructure related to high-power fast chargers. All of the infrastructure and technological developments are accelerating global adoption of electric vehicles.  

To promote the use of electric vehicles, the Japanese government has also put in place several incentives, including tax reductions, financial aid for EV purchases and charging infrastructure, and exemptions from some taxes and levies. The increased demand for EVs among environmentally concerned consumers constitutes one of the primary drivers that are strengthening the industry's growth in Japan. 

Electric Vehicle Market Segmentation:

By Type

• PHEV
• BEV

By Application

• Home Use
• Commercial Use

Electric Vehicle Market Companies:

• Tesla
• BYD
• SAIC
• BAIC
• BMW
• Hyundai & Kia
• GEELY
• Nissan
• Volkswagen
• Renault
• JAC
• TOYOTA
• Mitsubishi
• Chery
• VOLVO
• GAC Motor
• Great Wall Motors
• DongFeng Motor