This year has been a good year for the nascent electric vehicle (“EV”) sector, all things considered. Although the economy is still struggling to recover from the effects of the coronavirus pandemic, data shows that battery electric vehicle (“BEVs”) sales nearly doubled between January and October. With the effects of climate change becoming clearer every year, several governments have revealed plans to achieve carbon neutrality by 2050, and automakers have been developing new EV models. However, EV adoption has been quite slow owing to factors such as high costs and limited charging infrastructure.
Nevertheless, car registration data sourced from Experian shows that consumer interest in zero-emission electric vehicles is on the rise. From January to October 2021, consumers registered 378,466 battery electric vehicles, making up 2.9% of total vehicle registrations. This is more than 94% the number of BEVs sold in the same period…
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