Global: Aston Martin launched its first all-electric car, the Rapide E, an electric sedan. The Rapide E. Co-developed with the Williams F1 team. Powered by an 800-volt, 65kWh battery, the Rapide E will be able to travel “over 200 miles” on a single charge. Twin motors mounted on the rear axle will generate 450kW (or over 600 horsepower) and can get the car up to a top speed of 155 miles per hour. That will happen fairly quickly, too – the Rapide E will go from 0 to 60 miles per hour in under four seconds (which is a tick faster than the standard internal combustion Rapide S). When plugged into a high-speed charger, the car’s battery can be recharged at a rate of 310 miles per hour.
According to BlueWeave Consulting, Electric vehicles (EVs) are the inevitable future of the automotive industry. The luxury carmakers have realized the EVs offer a superior driving experience. The electric vehicle market is anticipated to create lucrative opportunities for electric vehicle manufacturers as well as for vehicle component manufacturers in the near future. The demand for the passenger electric vehicles is governed by an increase in demand for fuel-efficient, high-performance, and low-emission vehicles. The move to electrify vehicles has gathered momentum the world over. Moreover, technological advancements in electric vehicles and infrastructure with proactive government initiatives are expected to unfold various opportunities for the growth of the electric vehicle market in the future.
The rising public awareness of air quality and the burden of disease caused by air pollution is an essential step in reducing air pollution and improving public health which is accelerating market demand for electric vehicles. As the global temperatures are increasing at an alarming rate, governments and industry around the world have pledged to reduce greenhouse gas emissions. Declining crude oil reserves and issues concerning deprivation of the environment are the main factors fuelling the expansion of electric vehicle industry. However, incentives and subsidies on the utilization of such a vehicle is a new factor propelling expansion for electric power drive vehicles. In the current market scenario, policy support is among the major factors driving the electric vehicle market, as policies have been lowering the barriers for electric vehicles adaptation.
According to the recently published report by BlueWeave Consulting on “Global Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014-2024,” the Global Electric Commercial Vehicles market is projected to grow at a CAGR over 13.0% during the forecast period in terms of value. The market is expected to reach over USD149, 316 Mn by 2024, supported by government subsidies and tax rebates for commercial electric vehicles. Need for fuel-efficient and emission-free vehicles and the increasing demand for the electric commercial vehicle such as an electric truck in the logistics industry to minimize the additional liability of fuel expenses. Innovations in EV battery capacity, which will enable the electric commercial vehicle to carry heavy loads over a longer range, can create new revenue generation opportunities.
According to the upcoming report by BlueWeave Consulting on “India Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014-2024,” India Electric Vehicle is projected to grow over a forecast period. The demand for electric vehicles is governed by an increase in demand for fuel-efficient, high-performance, and low-emission vehicles. In addition, the trend of reduction in vehicular emission due to stringent rules & regulations in several states and growth of public charging infrastructure in India are fuelling the market growth