However, high manufacturing cost and lowered lifetime of the electronic elements restrain the market development. Initiatives took by the Chinese government to boost the automotive sector and increase the gross sales of luxury cars within the country also helped in sales growth and attract new investments. In terms of policy and taxation reforms, China is considering a tax cut to revive its weakened automotive market. A decade in the past, there weren’t many fully-electric autos available on the market besides Tesla’s lineup or the Nissan Leaf. That is why some saw the dominance of electrical automobiles within the automotive industry very far-off.

This is due to the strong government support for passenger EV’s in these countries. Germany, France, Netherlands, Norway, Sweden, UK, and so on. are the top countries within the European region with a rising demand for EV passenger autos. These international locations have come out with string of …