It should come as no surprise to anyone that the demand for electric vehicles is expected to continue and even accelerate beyond what the world has experienced over the last couple of years. By the end of this year alone, just days from now, revenue from sales of electric vehicles is projected to reach $388 billion.
What's more, the EV market is expected to grow at a 16.84% clip over the next four years, reaching a staggering $846.7 billion by the start of 2027. Key factors that figure into that growth forecast include the acceleration of charging infrastructure in key markets and, of course, the overall economy as a whole.
Those numbers reflect forecasted consumer demand without any consideration given to manufacturers' ability to meet it. Manufacturers from established legacy companies that are transforming into EV manufacturers to EV startups have a singular universal concern as they move forward.
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