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Why Investing in the Electric Vehicle Market Might Be the Best Option for Automotive Companies? | SpendEdge

January 3, 2020 GMT

LONDON--(BUSINESS WIRE)--Jan 3, 2020--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on why is electric vehicle market the biggest investing sector for the next decade.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200103005010/en/

Increasing adoption of electric cars is expected to benefit the electric vehicle market. People in countries such as Norway, Germany, and the UK are increasingly turning towards electric vehicles. Automotive companies are expanding their businesses through partnerships with domestic firms and aiming at synergies to develop more-advanced electric vehicles. All such factors are creating ample growth opportunities for the electric vehicle market.

At SpendEdge, we understand the key factors driving the electric vehicle market. And to help you understand better, we have highlighted electric vehicle market trends.

Electric Vehicle Market Trends

Monetary government subsidies

Despite the low market size, the electric vehicle market has high growth prospects. Governments are initiating certain measures to make electric vehicles attractive. Firms should make use of dynamic conditions and governmental regulations to support electric vehicle purchases.

Want to know initiatives that will be undertaken by the government to boost the domestic electric vehicle market? Request free platform access to access our smart procurement solutions and 1000+ procurement reports!

Shared mobility services

The shared mobility services market is gaining strength over time. People are increasingly turning towards some form of the ride-hailing app. This will reduce the demand for private vehicle ownership. Companies will have to tap the shared mobility services market as they are more likely to adopt electric vehicles than private owners. To know markets that can impact the electric vehicle market,get in touch with our experts now!

Technology advances

The demand for batteries has been escalated in the consumer electronics industry. Companies are looking for solutions to improve manufacturing capacity. The dynamic developments of battery technologies will boost the electric vehicle market and help companies achieve further cost reductions by changing battery characteristics and scaling manufacturing plants.

To gain more insights into the electric vehicle market, read the complete article here!

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About SpendEdge:

SpendEdgeshares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Want to gain detailed insights? https://www.spendedge.com/get-more-info

View source version on businesswire.com:https://www.businesswire.com/news/home/20200103005010/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 01/03/2020 11:39 AM/DISC: 01/03/2020 11:38 AM

http://www.businesswire.com/news/home/20200103005010/en