The Local Governments in the US Have Planned to Build an Electric Vehicle Corridor
United States: The local governments
of Colorado, Utah and Nevada in the US have planned to develop an electric
vehicle corridor which would promote the use of electric vehicles in the
region. The development of electric vehicle corridor will include installation
charging network in more than 2,000 miles of highway. Colorado state government
offers USD5,000 tax credit on purchase of electric vehicles and the region has
witnessed huge surge in number of electric vehicles between 2011 and 2016 i.e.
from less than 100 to 8,000. The increase in deployment of electric vehicles
and government policy to promote electric vehicles in the region would
promulgate the market for electric vehicle infrastructure in the region in near
future.
TechSci Research depicts that the governments
across the globe have focused on reduction of harmful gas emissions from the
automobile sector, thereby formulating policies to increase the penetration of
electric vehicles in the transportation sector. With increasing focus of
governments across the globe to promote the use of electric vehicles the demand
for electric vehicle infrastructure would increase in near future.
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 development of battery technologies and enhancement
in charging protocols is a big boost for electric vehicle infrastructure. The development
of battery technology and universal charging protocols would lead to upsurge in
demand for electric vehicles and expansion in market for electric vehicle
infrastructure globally.