The technological advancements in the EEC Low speed electric vehicle sector such as the advancement in the production of EV batteries on a large scale as well as the decrease in the cost of these batteries have significantly incentivised people to invest more in this sector. This has led to an overall reduction in cost of electric vehicles as the battery is the most expensive component of an EV. The prices of EV batteries are expected to decrease around $60 per kWh by the year 2030 which will reduce the cost of EVs making them cheaper and accessible to a wide range of population.
The EEC Low speed electric vehicle sales in Europe saw a significant rise during the second quarter of 2021, the new car registrations from plug-in EV raised to 237,934 which was an increase by 157% year-over-year. There has been a total of over 1 million car registrations for plug-in EV in the year 2021 in Europe which constitutes 16% of the total market out of which 7.6% constitute BEVs，The sales of EEC Low speed electric vehicle increased by 50% in Iceland, 25% in Netherlands as well as 30% in Sweden.
Post time: Apr-07-2022