Search Results

Electric car markets experience exponential growth. As per IEA battery electric vehicles sales exceeded 10 million in 2022 [1] . There is projection from IEA that EV sales will touch 40 million mark by 2030, major contribution from China (12 m) and Europe (13.3 m) regions [2]. This growth projection attributed to many global factors, government policies, automakers commitment, climate change, etc. There is a massive push from global institutions and automobile community for transition to electric mobility. There is a 66% likelihood that the annual average near-surface global temperature between 2023 and 2027 will be more than 1.5°C above pre-industrial levels for at least one year. There is a 98% likelihood that at least one of the next five years, and the five-year period, will be the warmest on record [3]. Hence transition is imperative to reduce greenhouse gases and adhere to climate change commitments. Today EVs are not popular as ICE.