The electric vehicle (EV) industry continues to gain momentum across the globe, which suggests the recent data on worldwide EV sales. Notably, worldwide EV sales reached 851,000 items in March 2022, which is 60% higher compared to a year-ago period. In addition, the EV's market share stood at 15%, emphasizing the continued electrification of the automotive sector.
According to Allied Market Research, the global EV industry should grow at a solid CAGR of 18.2% between 2020 and 2030 to hit $823.75 billion in the terminal year. Besides, the current rise in gasoline prices can attract more customers to the EV industry, thus accelerating EV adoption trends.
