Global EV sector booming thanks to governmental help and investments

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The electric vehicle (EV) sector registered exponential growth during the last decade due to depleting fossil fuel reserves and growing awareness about the impact of global warming. As EVs are a viable option to replace internal combustion engine (ICE) vehicles, EV sales increased substantially in several countries despite the automotive industry facing supply chain constraints in 2020 due to the COVID-19 pandemic.

Global EV sales reached 7.7 million units in 2022, up from 1.4 million units in 2018, and are anticipated to reach 51.6 million units in 2035, driven by government mandates and infrastructure investments, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ... More: Official Press Release GlobalData

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