Global Electric Vehicle Market

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In this changing World where Environment is damage by human’sElectric vehicles is a way to say thanks to the environment by saving It. Electric vehicle is a new medium of transportation without polluting the surrounding. It is a basic need for the society because is high time To understand fossil fuels are not there for always and we need a new Measure to keep the life running .An electric vehicle is a vehicle that uses one or more electric motors or traction motors for propulsion.According to the Global EV Outlook 2019, the global electric car fleet exceeded 5.1 million in 2018.Ev is growing very vast people are acknowledging the importance Of EV .

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India is also adopting EV and many companies entering with Ev model.History The first Large production of EV was done in America in 1900s by Studebaker Automobiles company .Due to the limitations of electric batteries at that time the market was not that big andEV was not that big success that time. In latest few decades the Idea of EV is discovered again because of the peak of fuel the world is rethinking of EV. This graph shows the market of EV in 3 region Asia Pacific, Europe, North America This grap forecast the market till 2030 with tremendous Growth. Strength Ev has a lot of factor which could be it’s strength. EVs most valuable strength is that is dosnt required Gas. It runs on elcticity so the people don’t have To worry on diplishing fossil fuel. Price of fuel is increasing which affects poor and Middle class very much so EV is a great relief to them also. Ev is eco-friendly and people are now aware that We have to same environment also. It goes under so many fitness test so it is easy to Drive and safe for everyone. It requires no maintance cost.

It also reduce noise pollution and gives a smoothRide with high acceleration also.Weakness It has so many advantages but also have someDownside. People have to focus on them alsoBefore investing a large amount. Electric recharge point are still on developmentStage so it is very difficult to charge it in the Country. Electric is a limited source of energy so It’s is not for long distance about 50-100Miles .While it takes few minutes to fuel your vehicle But it takes quite a long time to charge your Electric vehicles It’s normally two seaters and people buy vechelConsidering there family.

Opportunity The Electric Vehicles have taken the world by a storm in the recent years, spearheaded by Tesla which now has a worldwide revenue of $11.8 BillionThere are many opportunities for EV in upcoming years. India has a large population and the state Governments are making policies for EV. Recently We saw uttarkhand bringing latest policies for Electric vehicles. So there is a great demand for EV specially cities likeDelhi which is facing souch disturbance with the Pollution .There would be requiment of EV charge station Which will be creating jobs .ThreatThese threats are like challenges for EvChanges takes time. People will not squire Changes like they have a habbit of fuel vechle they will not easily jump on EV a lotOf advertising has to be done n it will take sometime. People have limited choice with EV and the Competitors with fuel have a large variety so this is also a big threat. A big charging infrastructure will be required in the country and the question isWho will pay. The government or the private sector.  

SummaryIn this module we did the SWOT analysis of Ev market and found the strength weakness opportunities and threat for the industry. We studied the growth of the industry and also saw the growth of EV till 2030 . Ev has Benifits like cheap ,avoid noise pollution . who are thinking for entering the market is the right time for them and those who are already in the market should start advertising about EV by telling people about it’s Benifits and social coz that it.

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Global Electric Vehicle Market. (2022, May 29). Retrieved December 9, 2022 , from
https://studydriver.com/global-electric-vehicle-market/

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