Electric vehicle market

Is the 2021-year beneficial for the electric vehicle market?

Even though the electric vehicle market didn’t grow, compare, to its last year’s quarter-end. Around 1.05 million electrified vehicles sold in the most important automotive markets.

As per PwC Strategy&, China is growing strong over the year with fivefold times more than the last year. In the number of electric vehicles been sold. The survey shows more than 14 electric vehicle markets are accounted for 432,000 pure electric vehicles. Plug-in hybrids saw their rise.

However, in China, the vehicle sold at a lesser rate. The ten most important European markets saw significant growth. Year-on-year, the plug-in hybrids record a strong increase of 160 percent to 213,000.

The sales of battery-electric cars rose by 59 percent to 185,000. The European markets are left behind in China. And the market share of electric drives saw a significant rise in Europe.

In Europe, Germany is the major growth driver in the vehicle industry. A total sale of 143,000 electric cars led to an increase of 172 percent. The market share of Germany in electric vehicles recorded as almost 22 percent.

In the USA, pure electric cars and plug-in hybrids are playing a minor role. With a combined 106,000 registration, a market share of 2.7% recorded. The survey report shows new hybrid vehicles without external charging options. Around 1.06 million with an increase of 66 percent, is present in Japan.

In my opinion, in the current scenario, hybrids are a clear shot win-win situation. Due to the lack of a charging station. The situation shows how many major markets from Asia to Western countries are playing a major role.

Not a single market can be left when it comes to profit. Or business-oriented scene for the electric vehicle market.

Source:- Automobil Produktion

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