The Latin America, Middle East and Africa Electric Vehicle Market would witness market growth of 26.2% CAGR during the forecast period (2019-2025).
With the innumerable advantages of electric vehicles, companies in developed countries have spent huge amounts to develop electric cars that can travel longer distances, providing high levels of comfort. In spite of this technology being available now, the cost of electric vehicles to suit driving requirements in these developed countries is prohibitively high. Mobility is going to change rapidly in the coming years as electric vehicles (EV) proliferate, ride-sharing continues to grow, and eventually, autonomous vehicles (AV) enter urban fleets. This is especially true in cities where new forms of mobility are concentrated and where investment in supporting infrastructure is needed to accommodate this growth. These changes coincide with the evolution towards a cleaner, more decentralized and digitalized energy systems and services, and increasing electrification.
Based on Type, the market is segmented into Hybrid Electric Vehicle, Battery Electric Vehicle and Plug-in Hybrid Electric Vehicle. Based on Vehicle Type, the market is segmented into Passenger Vehicles, Two-wheeler and Commercial Vehicle. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tesla, Inc., Volkswagen AG, Honda Motor Co. Ltd., BYD Company Limited, Volvo Group, BMW Group, Toyota Motor Corporation, Ford Motors Co. Ltd., Daimler AG and General Motors Co.
Market Segmentation:
By Type
By Vehicle Type
By Country
Companies Profiled
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