Electric vehicle market by type (battery electric vehicle, hybrid electric vehicle, and plug in hybrid electric vehicle), and vehicle type (passenger car, commercial vehicle, and two-wheeler) - gl

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The global electric vehicle market was valued at $118,864.5 million in 2017, and is projected to reach $567,299.8 million by 2025, growing at a CAGR of 22.3% from 2018 to 2025. An electric vehicle operates on electricity, unlike its counterpart that runs on fuel. Instead of internal combustion engine, these vehicles run on an electric motor that requires constant supply of energy from batteries.

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