Are Electric Vehicles Good For The Planet?
Electric vehicles have grown in popularity over the years. As the planet gasps for ways to end pollution, electric vehicles seem to be a partial answer to this problem. Or is it really? In the 1800s when automobiles started to replace horse-drawn carriages, inventors experimented with different fuels. Initially, steam-powered vehicles came to the forefront, but soon gasoline powered vehicles started to dominate. Now, advancements in technology and concern about fossil fuels have put electric vehicles on the map. The global electric vehicle (EV) sector is expected to expand at a compound annual growth rate (CAGR) of 15.9% between 2023 and 2035, according to new report from data and analytics company GlobalData, Power Technology ’s parent company. Broken down by vehicle type, the report finds that the passenger EV market is expected to register a CAGR of 26.1% during this period, while the commercial EV sector is predicted to grow 15% during the same time f...