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Electric Vehicle (EV) Market Trends and Dynamic 2028

The electric vehicle (EV) market is projected to grow at a CAGR of 17.9%, with estimated market size of USD 170.5 billion in 2021 and USD 457.9 billion by 2028. One major factor that affects the market is rapid urbanization, the booming automotive sector, and the changing consumer preferences for hybrid and electric vehicles (HEVs). The demand for EVs is also being stimulated by rising consumer concern over ecological sustainability and rising public awareness of the negative environmental effects caused by greenhouse gas (GHG) emissions. 

Read Comprehensive Overview of Report @ https://marketsnresearch.com/report/1559/global-electric-vehicle-ev-market

Increasing investment in electric vehicles

The expansion of the market is thought to be fueled by the rising investment in electric mobility. Players on the market, including Daimler AG, Ford Motor Company, and Groupe Renault, are putting more money into their EV production plans. For instance, the Ford Company declared its intention to spend USD 300 million at its Romanian plant in 2023 to create a new light commercial vehicle. Major corporations, including Daimler AG and Mercedes Benz, are also making significant investments to create EVs. As a result, during forecasting, the market is anticipated to grow over the long run.

Key Market Players

The electric vehicle (EV) market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Tesla, Volkswagen AG, Saic Motors, BYD, Stellantis, BMW Group, Nissan Motors, Hyundai Group, Great Wall Motors, Toyota Motor Corporation, GAC Motors, Renault Group, Geely, General Motors, Rivian, Fisker, Lucid Motors, Ford Motor Company, Baic Motors, Mitsubishi Motors, Chery, JAC, Zoyte, Daimler AG, Xpeng, Byton, Nikola Corporation, Altcraft Motor Company, NIO, Faraday Future, Leap Motors, WM Motors, Fresco Motors and Lordstown Motors.

Read More News :

https://www.linkedin.com/pulse/electric-vehicle-ev-market-garner-4579-billion-2028-179-jyoti-gour/?published=t

https://www.globalreporterjournal.com/article/598926238-electric-vehicle-ev-market-size-to-hit-usd-457-9-billion-by-2028-with-17-9-cagr-latest-industry-coverage-by-markets-n-research
https://smb.gatescountyindex.com/article/Electric-Vehicle-EV-Market-Size-to-Hit-USD-4579-Billion-by-2028-with-179percent-CAGR-or-Latest-Industry-Coverage-by-Markets-N-Research?storyId=636123a9b4ed3a46c5aa225d
https://smb.harlandaily.com/article/Electric-Vehicle-EV-Market-Size-to-Hit-USD-4579-Billion-by-2028-with-179percent-CAGR-or-Latest-Industry-Coverage-by-Markets-N-Research?storyId=636123a9b4ed3a46c5aa225d
https://www.consumerworldreport.com/article/598926238-electric-vehicle-ev-market-size-to-hit-usd-457-9-billion-by-2028-with-17-9-cagr-latest-industry-coverage-by-markets-n-research
http://www.bankingpressreleases.com/article/598926238-electric-vehicle-ev-market-size-to-hit-usd-457-9-billion-by-2028-with-17-9-cagr-latest-industry-coverage-by-markets-n-research
http://www.financeindustrytoday.com/article/598926238-electric-vehicle-ev-market-size-to-hit-usd-457-9-billion-by-2028-with-17-9-cagr-latest-industry-coverage-by-markets-n-research