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Electric Cars Market is Expected to Reach USD 475.62 Million by 2024 with the CAGR of 31.25%

Electric Cars Market is valued at USD 93.3 Billion in 2017 and expected to reach USD 475.62 Billion by 2024 with the CAGR of 31.25% over the forecast period. Electric car is a plug-in electric automobile that is driven by one or more electric engines, using energy typically stored in rechargeable batteries. Electric cars are a variation of electric vehicle. The word “electric vehicle” refers to any vehicle that uses electric motors for driving force, while “electric car” usually refers to highway-capable automobiles driven by electricity. Charging an electric car can be done at charging stations, this charging station can be set up in both houses and public areas. Electric motors are more effective than internal combustion engines in converting stored energy into driving a vehicle. Form 2008, a coming back in electric car occurred due to advancement in batteries. The credits, subsidies, and some others incentives are established by somegovernment to promote the introduction and now adoption in the market of new electric vehicles. Global Electric CarsMarket report is segmented on the basis of bytype,by Components, and by regional . Based upon by type, global Electric Carsmarket is classifiedHEVs (Hybrid Electric vehicle), BEVs (Battery electric vehicle) PHEVs (Plug-in hybrid electric vehicles).Based upon by Components is classified in to Batteries, Sub-assemblies, Automotive parts among others. The regions covered in this Electric Cars Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Electric Carsis sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

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