The Rapid Growth Of The Major Electric Vehicles Manufacturing Companies

The electric vehicles are one of the latest trends in the automobile industries. It makes use of more than one traction or electric motors for propulsion. This type of vehicles can be powered by two ways. It can be charged to the self- charging devices like turbochargers and regenerative braking systems. Also, it can be powered through the collector systems that are run through electricity.

Segmentation of the electric vehicles market

the electric vehicles market by its type:

·         Hybrid electric vehicle (HEV)

·         Battery electric vehicle (BEV)

·         Plug-in hybrid electric vehicle (PHEV)

the electric vehicles market by vehicle type:

·         Passenger cars

·         Two- wheelers

·         Commercial vehicles

Global segmentation of the electric vehicles market

the electric vehicles market is geographically segmented into regions like Asia Pacific, Europe, North America, Rest of the World (RoW).

The top five influential key players in the electric vehicles market include:

·         Tesla, Inc.- Tesla Inc is one of the topmost American automobile company which has gained popularity due to its production of the electric vehicles. The company has got several positive responses and attention from the consumers. The future strategy of the company is to improvise the autonomous driving capabilities of electric cars.

·         Nissan Motor Corporation- the Nissan Motor Corporation is popularly known for its best selling electric automobile, the Nissan Leaf which is a hatchback car. The Nissan Leaf is one of the greatest production in the world of electric vehicles.

·         BMW- the BMW name is always associated with the luxurious vehicle. BMW operates an innovative of different models of electric cars. The company aims to maintain is current brand value.

·         Kia Motors-  Kia Motors is one of the second largest automobile manufacturers in South Korea. The company is known for its practical affordability and its electric car portfolio range.

·         Chevrolet- Chevrolet is one of the quintessential American automobile manufacturing company which is seeking to reinvent itself in order to meet the specific requirements of the next generation car buyers.

Factors affecting the growth of the electric vehicles market

The increasing demand for the high- performance, low- emission and fuel-efficient vehicles is boosting the demand for the electric motor vehicles. Also, the strict laws and other government mandates regarding the pollution level caused by the vehicular emission is expected to augment the market growth of the electric vehicles. However, the high cost of manufacturing of the electric vehicles along with low serviceability and economy is restraining the market growth of the electric vehicles. The technological advancements in the sector of electric vehicles along with other government initiatives are expected to unfold the growth opportunities for various stakeholders in the market. The Aerospace & DefenseIndustry Research firms are also steps to improvise the features of the electric vehicles.

Other key players in the electric vehicles market

Few other key players in the electric vehicles market include electric automobile manufacturing companies like Toyota Motor Corporation, General Motors, Volkswagen AG, Daimler AG, BYD Company Motors, Energica Motor Company S.P.A., Ford Motor Company, Zero Motorcycles, Audi AG, Renault Motors, Mahindra & Mahindra Ltd, and Citron.

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