The global EV market continues to grow rapidly, driven by a decarbonisation challenge that many leading nations now take seriously. Powered by renewables and other low-emission electricity sources, EVs consume considerably less energy than comparable conventional vehicles.

In some countries, ev electric vehicles make up a large share of new vehicle sales, and are increasingly seen as an important part of the urban mobility mix. Whether they are plug-in hybrids or fully-electric models, all EVs offer significant environmental benefits, including significantly lower emissions and noise levels, as well as fuel savings.

EVs can be recharged at home using a standard 120 V outlet or, in some cases, with a dedicated charging system. They also can be charged at public charging stations. Many manufacturers also sell portable chargers that can be used on the road.

Many EV models feature aluminum components, rather than steel, to reduce vehicle weight and increase efficiency. Similarly, a number of EV battery systems use lithium-ion cells, rather than nickel-cobalt ones, to reduce size and cost.

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As electric vehicles gain in popularity, they are gradually becoming available at a wider range of price points. In the near future, it’s expected that they will compete with similar conventional vehicles on purchase prices. Until then, financial incentives are helping to offset the higher upfront costs of EVs.

Amid rising demand for EVs, some automakers are expanding their portfolios of plug-in models. For example, Volkswagen has introduced a wide variety of splashy EVs like the ID.4 and the Buzz, but these models often don’t make as much money as other VW offerings. As a result, they don’t have the same incentive to cut EV prices even further, which would accelerate sales.