Global EV Market Expected to See Nearly 20% CAGR Until 2028

September 3, 2021 3:10 PM EDT

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The nascent electric vehicle (“EV”) sector is poised to experience major growth over the next decade. As the effects of climate change become increasingly apparent around the world amid freezing temperatures, heat waves and massive wildfires, territories are scrambling to reduce their reliance on fossil fuels and cut down on their greenhouse gas emissions by replacing fossil fuel cars with zero-emission electric vehicles. As such, the sector will experience significant growth over the next decade as automakers and fleets work to meet carbon emission standards and more drivers ditch their internal combustion engine (“ICE”) for electric cars.

According to a new report that outlines the growth of the electric vehicle industry over the next couple of years, the global EV market is projected to&

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