Global Electric Vehicle Market

July 20, 2023

Electric vehicles are the significant technology to decarbonize road transport. Recent years have witnessed exponential growth in the sale of electric vehicles together with wider model availability, improved range and increased performance. As people become more environmentally conscious, electric cars are becoming more and more popular. This increases the number of electric vehicle options available to consumers. On the other hand, to keep up with this expanding trend, an increasing number of automakers are also investing in the research and development of electric vehicles.

ImageGlobal Electric Vehicle Market

Data Bridge Market Research analyzes that the Electric Vehicle Market is expected to grow with a CAGR Of 24.00% in the forecast period of 2022 to 2029 and is expected to reach USD 1,566,378.14 million by 2029 from USD 280,235.49 million in 2021.


ImageElectric Vehicles Initiatives (EVI)

An international policy forum known as the Electric Vehicles Initiative (EVI) was created with the goal of speeding the introduction and uptake of electric vehicles.


Improve knowledge of the opportunities provided by electric transportation to achieve diverse policy objectives.

Raise public understanding driving the adoption of electric vehicles, supporting national policy and regulatory implementation

Develop a vision for the future of electric mobility while reaching agreement on policy objectives (such as EV30@30) and success metrics.

Improve the visibility of national policy efforts in the publications, such as the global electric vehicles outlook and bolster policy action

Encourage targeted policy action and increase the effectiveness of particular measures.

Accelerate learning, capacity building, information sharing, and particular initiatives such as the EVI Global Pilot Cities Program to expand the geographic reach of the policy deployment on electric mobility.

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