Electric vehicles (EVs) have a global market that is expanding consistently at a compounded rate of 21.7%. International Energy Agency (IEA) estimates that by 2021, sales of electric vehicles would increase by over twofold to 6.6 million, increasing the total number of electric vehicles on the road to more than 16.5 million.
By 2030, it is anticipated to increase from 8.1 million units to 39.21 million units. According to recent reports, Tesla’s fast-charging port is being used by Honda, Ford, GM, and other manufacturers of electric vehicles for their EV models.
Instead of utilizing fossil fuels like gasoline or diesel, electric automobiles use electricity to recharge their batteries. Now that there are more EV charging stations, it will be simpler for consumers to charge at stations close by. There are around 17,000 Supercharger stations and 54,000 public charging stations in the United States, according to the Department of Energy.
EV (electric vehicle) charger installation, battery replacement, inexpensive insurance, and other services are provided despite the high cost of purchasing an electric vehicle. When the price of buying and maintaining EVs is comparable to that of gasoline-powered cars, the adoption of electric vehicles will eventually rise.