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18 Jul 2022

Electric and Hybrid Cars Market

An electric vehicle operates on electricity unlike its counterpart, which runs on fuel. Instead of internal combustion engine, these vehicles run on an electric motor that requires constant supply of energy from batteries to operate. There are a variety of batteries used in these vehicles. These include lithium ion, molten salt, zinc-air, and various nickel-based designs. The electric vehicle was primarily designed to replace conventional ways of travel as they lead to environmental pollution. It has gained popularity, owing to numerous technological advancements. It outperforms conventional vehicles providing higher fuel economy, low carbon emission & maintenance, convenience of charging at home, smoother drive, and reduced sound from engine. There are three types of electric vehicles batteries, hybrid, and plug-in hybrid electric vehicles. In addition, electric vehicles require no engine oil changes but are slightly expensive than their gasoline equivalents.
A hybrid vehicle uses more than one type of power source. The most common types of hybrid vehicles use a combination of an internal combustion engine (ICE) and an electric motor. Hybrid vehicles are designed for better fuel efficiency, more power, and minimum emissions. These vehicles capture electrical energy produced from different sources such as regenerative braking systems and engines. They can conserve energy by shutting down the engine when the car is parked, idle, or when the electric motor’s energy is sufficient to drive the vehicle without assistance from the ICE.

Leading vendors in the market are included based on profile, business performance etc. Vendors mentioned as follows:
Toyota
Tesla
BMW
Nissan
Chevrolet
Ford
Tata Motors
Volkswagen
KIA
Hyundai

Based on Application, the report describes major application share of regional market. Application mentioned as follows:
Passenger Car
Commercial Vehicle

Based on products type, the report describes major products type share of regional market. Products mentioned as follows:
Electric Vehicle(EV)
Hybrid Vehicle(HV)

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