EV's gain market share

Electric cars market seems to experience recent growth on a global scale. Two main factors claimed to stay behind the substantial increase in sales, announced by the leading OEMs of electric vehicles. Firstly, the advance in the charging systems technology has reduced the charging time dramatically. Furthermore the commenced incentives by some governments have cut the ownership costs and made electric cars more economically affordable and attractive.

The new charging technology allows car battery charging up to 80% in 20-30 minutes. According to the charging infrastructure providers the EV sector is experiencing a “revolution” regarding the deployment of electric vehicles. The future development and expansion of the battery charging infrastructure will facilitate the combat with users’ anxiety around the driving range of electric cars. Some countries, for example China, have declared a readiness to invest significant amount of money for the expansion of the public network of charging stations and thus to enhance customers’ willingness to purchase and utilize electric vehicles.

Furthermore electric vehicles are gaining ground rapidly in particular countries due to governments’ incentives such as VAT and sales tax exemption, leading to substantial reduction in the cost of battery powered vehicle in comparison with the petrol driven equivalent.


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