Several factors are propelling the expansion of the EV market:
Government policies: Many countries offer incentives such as tax credits, rebates, and grants to encourage the purchase of EVs. Environmental concerns: Increased awareness of climate change and the need to reduce carbon emissions are pushing consumers and businesses towards more sustainable transportation options. Technological advancements: Improvements in battery technology, charging infrastructure, and vehicle performance have made EVs more attractive to consumers. Consumer preferences: Growing interest in sustainable and eco-friendly products is driving demand for EVs.