There is a high growth potential within the global electric vehicles Market. This is making the market extremely attractive, thereby garnering the interest of several new players, States Transparency Market Research (TMR), in its latest research report. The report highlights the leading players operating within the electric vehicles market and also discusses the various important strategies implemented by these leading players in order to succeed in the market.
The business and financial overview of these companies as well as their recent accomplishments are also discussed in the report. In addition to this, the degree of competition, the challenges faced by then, as well as information regarding mergers and Acquisitions, Partnerships, collaborations, and joint ventures are given. Names of the players studied in the report include: Nissan Motors, Tesla Motors, Renault, Mitsubishi Motors, Smith Electric Vehicles, General Motors, and , Toyota Motors.
According to Transparency Market Research, the global electric vehicles market will be worth US$271.67 bn by 2019. On the basis of geography, it is expected that North America will lead in the electric vehicles Market on account of the many initiatives taken by government with regards to curb greenhouse gas and carbon emission control. The government of the US is also facilitating the growth of the electric vehicles market by taking several initiatives with regards to construction of electric vehicle charging facilities.
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According to the lead author of this report, “the global electric vehicles market is predicted to grow tremendously on account of the need to lower fuel expenditure.” Majorly, it is the various initiatives taken by government which will play a huge role in driving the growth of this market. Governments are taking initiatives on account of the growing environmental concerns. The availability all electric cars at affordable prices will also be a key factor in boosting the uptake of electric vehicles in the years to come. Some of the other reasons behind the growth of this market include a surge in the price of fossil fuels, and the adverse impact on the environment on account of petroleum-based transportation vehicles.