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Electric vehicles, being an ideal public transportation solution, are witnessing greater adoption in several regions across the world. Reduction of carbon emissions and energy conservation are the two foremost benefits of these automobiles. As the number of personal vehicle ownership rises on a global scale, the demand for fuel will escalate, resulting in the quest for more convenient and cost efficient alternatives. Therefore, the need for environmental friendly and low-cost electric vehicle technologies is being increasingly acknowledged. The advent of plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs), which primarily use electricity as fuel is influencing the growth of the market.

A variety of market research reports by ResearchMoz offer key insights into the prominent catalysts, deterrents, trends, and developments in the market, alongside relevant statistical data. The leading market players have been analyzed in detail, wherein their key business strategies, product portfolios, and market shares are revealed.