The Electric Vehicle Market size is projected to reach US$ 1,448.87 billion by 2031 from US$ 410.34 billion in 2023. The market is expected to register a CAGR of 17.1% in 2023–2031. The growing concern for mitigating environmental pollution and lowering carbon emissions from the automotive sector is projected to drive the requirement for electric vehicles globally. The growing emphasis on rising fuel efficiency is anticipated to drive the application of electric vehicles at the global level.
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Top Key Major Players:-
- BMW Group
- Volkswagen AG
- Group Renault
- Mercedes-Benz Group AG
- General Motor Company
- SAIC Motors
- BYD Company Ltd.
- Nissan Motor Corporation
- Tesla
- Toyota Motor Corporation