Government Supports to Adopt Advanced Technology
Electrification of the transportation system is considered to play a vital role in reducing the environmental impact and oil dependency across the globe.
Governments across the globe have decided to adopt the promising technology for electrification of public and private transportation. Several governments have defined the goals and timelines for the phase-out of diesel and then gasoline engines. For instance, the government of Japan has recently promoted the adoption of Clean Energy Vehicles and has set a target that by 2035, all new cars sold will be environmentally friendly.
The European government is also taking the initiatives to promote the electric vehicles. With the Sustainable and Smart Mobility Strategy, European Commission has presented action plan and 82 initiatives to lays the foundation to achieve no net emissions of greenhouse gases by 2050 mission. The government has adopted several proposals to reduce the net greenhouse gas emissions by at least 55% by 2030 and to reach net zero emissions of greenhouse gases by 2050 (European Green Deal).
Moreover, the public transport such as electric trams, electric buses are also on the government’s list. For instance, California’s has set the goal to convert its 12,000 city buses to 100% electric by 2040. Many countries have started employing electric buses for public transports which includes Chile, China, Netherlands, Sweden and France among others. With the continuous adoption and expansion of electric bus it is projected that China is expected to purchase approx. 420,000 new electric buses by 2025 and around 40,000 heavy electric vehicles are estimated on the road of Europe and the United States. by 2025.
Conclusion
Increasing government initiatives and focused on adoption of electric vehicles for public and private transportation is expected to create lucrative opportunities for electric vehicle powertrain market.
The adoption and employment of environmentally friendly vehicles across the globe is expected to create the enormous opportunity for the electric vehicle and associated powertrain components.
Author's Detail:
Kalyani Raje / Linkedin
With a work experience of over 8+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as report writing, content writing, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
Author's Detail:
Kalyani Raje /
LinkedIn
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.