Electric vehicle market set to charge ahead, says Frost & Sullivan

Thursday 6th April 2017 | 0 Comments
 

The electric vehicle (EV) market is booming. Approximately 25 new electric vehicle models are likely to be launched later this year with Chevrolet Bolt and Tesla Model 3 being the most anticipated. The availability of incentives and subsidies in the market, significant investment by original equipment manufacturers, new entrants, and lower battery prices are factors propelling double-digit growth. However, the lack of standardisation in charging technology, absence of a fixed business model, and short-distance range of EVs still need to be addressed.

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Category: Product News, UK News