How far is the market expansion of electric vehicle ?

Have you ever wondered about the progress rate of electric vehicle from last three years? The demand of electric vehicle is spreading across the geographical horizon with a rapid flow. It’s just not about the number of vehicles got sold but also the number of new registration getting registered across the globe.

Source:- McKinsey
Source:- Center of Automotive Management
Source:- Center of Automotive Management

The following survey shows that China is becoming the world’s largest market for electric vehicle. The last two years result indicates the strong foothold in electric vehicle scenarios also shows the motivation to fight against the air pollution and also handle the dependency on depleting source with an alternative method.

Source:- ACEA

The following analysis shows that Germany is holding a strong position in respect to electric vehicle. The scenario clearly indicates that the customers are more prone towards electric vehicle as compare to traditional vehicles. It shows that the customer is more environmental friendly and would like to switch to alternative drives rather than depending on depleting sources. Somehow, South America is lacking the initiative to switch into alternative drives or join the race of electric vehicles.

Source:- Statista.

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