BIS Research - Emerging Technology Market Intelligence

What the Stakeholders Must Do to Make Electric Vehicles a Reality

Mar 25, 2019 3:49:28 AM / by BIS Research posted in Electric Vehicles Forecast, Electric Vehicles Market Share, Electric Vehicles Market Trends, EV battery, EV Battery Market, EV Battery report, EV market, Automotive, Electric Vehicles Market, EV Battery industry, Global EV Battery Market


Written by BIS Research Analysts Ajeya Saxena

In spite of rapidly increasing adoption of electric vehicles (EVs), their competitiveness in terms of performance and pricing with internal combustion (IC) engine vehicles still seems a farfetched objective. Sluggish developments in the battery chemistry combined with the scarce supply of raw materials have been major roadblocks in the EV market establishment. Stakeholders in the EV market have already invested more than $150 billion between 2014 and 2018 to overcome the challenges faced by EVs. While automotive OEMs have been key contributors in terms of investment, government support in form of subsidies and tax incentives has played a pivotal role in ensuring EV adoption.

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