Electric Vehicle Market Size To Be Valued At $1,212.1 Billion By 2027 Owing To Rising Number Of Government Initiatives Globally To Promote Manufacturing & Adoption Of EVs | Million Insights
The growth can be imputed to the number of government initiatives across the globe to promote the adoption and manufacturing of EVs.
- The growth can be imputed to the number of government initiatives across the globe to promote the adoption and manufacturing of EVs.
- For example, the Electric Vehicles Initiative (EVI), which is a multi-government forum, focuses on promoting the purchase of electric vehicles globally.
- For example, General Motors, in January 2020, announced to invest USD 2.2 Billion in the Detroit Plant for manufacturing SUVs and electric trucks.
- Moreover, the demand for electric cars increased to 5 million units in 2018 as compared to 2 million units in 2017.