Global Electric Vehicle Motor Market- Industry Analysis and forecast 2027

Mayurikathade04 Aug, 2022Business

Of all the oil consumed in the U.S, 70% is used for transportation. Further, passenger vehicles use 70 % of transportation oil. Globally, a rising middle class in China & India is causing demand for passenger cars to balloon, and with it, demand for oil. By 2050, there may be as many as 1.5 Bn cars on the road, compared to 750 million in 2010. This type of demand represents both a challenge & an opportunity to capitalize on new vehicle technologies. In a world where oil is a limited resource, an alternate source of transportation fuel ?electricity? is not only a smart investment, but it is an inevitable one.