The Global Electric Vehicle infrastructure market is set to expand by the end of 2021

United States: The electric car company Tesla Motors and solar energy company SolarCity have joined hands to meet the increasing demand of green energy in the North American region. The agreement between the two companies is considered to be one of the major business deals in the region which will propel the green energy business in the region in near future.

TechSci Research finds out that with growth in demand of electric vehicles globally, the market for electric vehicles infrastructure is going to expand by the end of 2021. The governments across the globe are promoting the use of electric vehicles by providing subsidies and incentivizing the same. The increase in penetration of electric vehicles in transportation leads to reduction in greenhouse gases emissions. In addition, use of solar energy to charge the electric vehicles will lead to major reduction in air pollution caused by the energy and automobile sector.

According to released report of TechSci Research “Global Electric Vehicle Infrastructure Market Forecast & Opportunities, 2021”, the global electric vehicle infrastructure market is projected to grow at a CAGR of 27% by the end of 2021. The growth is expected on account of increasing number of electric vehicles globally and governments’ policy to promote the adoption of electric vehicles. The integration of solar power generation with electric vehicle charging stations will provide a big support in the quest to reduce greenhouse gases emissions globally.