Fri, 20 May 2022

Futuristic Electric Vehicles Are Likely to Transform Mobility

iCrowd Newswire
21 Jan 2022, 01:02 GMT+10

There has been gradual shift from IC engine vehicles to electric vehicles over the years. The easy availability of EVs with growing technological advancements in the market drives the growth of the global electric vehicle market. In addition, favorable government initiatives to achieve the goal of clean energy support the market growth. Market players are trying to provide EVs at lower prices due to growing demand for electric vehicles and favorable government initiatives. Various new entrants are trying to enter the EV industry with the innovative technology in electric vehicles. Moreover, several brands and tech giants are expected to enter the EV market and transform mobility with next-generation vehicles.

Download Report (210 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/2404

There is a significant rise in the EV consumer base over the past few years. This is due to an increase in demand for high-performance, fuel-efficient, and low-emission vehicles in the market. The electric vehicles require low maintenance. Increase in diesel and petrol prices, increased awareness about hazardous environmental effects among consumers, and stringent environmental laws by the government, propel the demand for EVs for commercial use in the market. According to Allied Market Research, the global electric vehicle market is anticipated to grow at a significant CAGR from 2020 to 2027. The market players are providing cost-efficient and advanced two-wheeler and auto cars. This supports the market growth.

With the increasing demand for low emission vehicles in the market, there is an increase in the number of new players in the EV industry. While on the one hand, many start-ups are trying to make space in the market with innovative EVs. On the other hand, well-established brands are moving towards the mobility industry. Japan's Sony Group Corp., one of the world's biggest entertainment companies, is all set to enter the electric vehicle market and redefine mobility. This Japanese tech giant is exploring a commercial launch of electric cars by next spring with its new firm, Sony Mobility Inc. Kenichiro Yoshida, chairman, and president of Sony, informed about this company launch in a news conference, ahead of the United States' CES technology trade fair. Yoshida unveiled the Vision-S02, SUV prototype. This Vision-S02 uses the same EV platform as Vision-S01 Coupe, its precursor.

Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/2404

The company president believes that Sony is well-positioned as a creative entertainment company to redefine the mobility industry with the company's contents mastery combined with its cloud, 5G, imaging and sensing, and entertainment technologies. He also said the company saw mobility as an entertainment space, where the passengers could use 5G internet connection to choose individual entertainment options.

Market players in the mobility industry are adopting various strategic partnerships for establishing technological advancements in their vehicles and for their regional expansion, thus registering their market presence. BMW Group and TVS motor company announced their partnership in December for collaborative manufacturing and development of EV. Both the companies will export electric vehicles from India, attempting to penetrate the rapidly growing EV market. In the agreement of this alliance, TVS and BMW plan to co-establish an electric vehicle platform to manufacture a range of two-wheeler EVs. This collection will have a range of new concept EVs, scooters, and motorcycles. The company intends to convert several of its existing models into the electric vehicle to target the mainstream market. Initially, in this alliance, the companies plan to cater a range of 50,000 EVs in international and domestic markets.

Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/2404

Several other firms joined hands to expand the abilities of EVs for improved mobility. Arrival, a British startup, designed an electric automobile in collaboration with uber's drivers. This arrival car is specifically designed for the ride-hailing industry, intending to provide the best possible experience for its passengers and driver. The EV features substantial visibility and improved comfort with legroom almost twice of same length average car. This car assists the need for shifting global car-sharing and ride-hailing services to electric cars, thus reducing emissions and improving clean air in urban areas.

Few projects from new names in the market like Rivian, Byton, and Canoo seem promising. Brands are investing a hefty amount in these all-new EV manufacturers. Further, well-established brands in the industry are investing and working on innovations for their upcoming EV projects. Few brands are also working on the transformation of some of their existing models into EVs. Bollinger B1, Audi A6 e-tron, Cadillac Lyriq, BMW i4 and i7, BMW iX, are several upcoming EVs that hold the potential to transform the EV market space. There are few future EVs that are in various stages of production and are worth waiting for. The market demand, innovations, advancements in technology, brand partnerships, and an increase in the number of new companies will improve the market competition. The global electric vehicle market is expected to have an exponential growth curve in the coming years.

Schedule a FREE Consultation Call with Our Analysts to Find Solutions for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/2404

AMR Article Source ElectricCharge.me: https://electriccharge.me/ev-market/

Similar Reports We Have on Electric Vehicle Industry:

Low Speed Electric Vehicle Market by Vehicle Type (Passenger Vehicle, Heavy Duty Vehicle, Utility Vehicle, and Off-road vehicle) and End User (Golf Courses, Tourist Destinations, Hotels & Resorts, Airports, and Residential & Commercial Premises): Global Opportunity Analysis and Industry Forecast, 2018–2030.

Wireless Electric Vehicle Charging Market by Power Source (3–50 Kw), Installation (Home and Commercial), Distribution Channel (OEMs and Aftermarket), and Vehicle Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicle (HEV) and Commercial Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2018–2030.

Off-Highway Electric Vehicle Market by Type (BEV, HEV and PHEV), Application (Electric Motor Batteries, Charging Stations and Durability) and Industry Vertical (Oil & Gas, Energy & Power, Automotive, Eco-friendly and Healthcare): Opportunity Analysis and Industry Forecast, 2020–2030.

Electric Vehicle On Board Charger Market by Power Output (Less than 10kW, 10kw to 20kw, and More than 20kW), Vehicle Type (Electric Passenger Car, Electric Vans, Electric Buses, Electric Medium Duty Vehicles, Electric Heavy Duty Vehicles, Electric Agriculture Tractors, Electric Construction Equipment, Electric Mining Vehicles and Electric & Hybrid Boats and ships), and Propulsion Type (BEV, HEV and PHEV): Global Opportunity Analysis and Industry Forecast, 2020–2030.

Europe Electric Vehicle Market by Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Mild Hybrid Electric Vehicle (MHEV), and Extended Range Electric Vehicle (E-REV)), and Vehicle Type (Passenger Cars and Commercial Vehicles): Opportunity Analysis and Industry Forecast, 2020–2030.

Self-Driving Electric Vehicle Market by Level of Automation (Level 1, Level 2, and Level 3), Components (AI, Radar, LIDAR, Camera, and Ultrasonic Sensor), Vehicle Type (Passenger Cars, and Commercial Vehicles), and Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV)): Global Opportunity Analysis and Industry Forecast, 2021–2030.

Europe Electric Vehicle Chargers Market by Vehicle Type (Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, and Hybrid Electric Vehicles), Charging Type (On-board Chargers and Off-board Chargers), and End User (Residential and Commercial) - Opportunity Analysis and Industry Forecast, 2017-2030.

Tags: , , , , ,

See Campaign: https://www.alliedmarketresearch.com/Contact Information:Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Tags:Menafn, Reportedtimes, canadatousd, PR-Wirein, Empirits, Healthfirsto, Fexti, Dthai, lebc, Research Newswire, English

More Cleveland News

Access More

Sign up for Cleveland News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!