As per the latest report by IMARC Group, titled
: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global electric vehicles market size reached 3.3 Million Units in 2019. An electric vehicle (EV) is a relatively new technology in the automotive industry that is rapidly gaining traction across the globe. They operate using an electric motor instead of an internal-combustion engine, which produces power by burning a mix of fuel and gases. As a result, they offer a number of benefits, which include energy-efficiency, easy maintenance and generating less greenhouse gases (GHGs). Owing to the rising pollution levels, increasing concerns about climate change and depleting natural resources, they are replacing conventional automobiles across the world.