Science & Technology

Electric vehicles slowly increase their presence worldwide

There are around 5 million EV on the roads, comparing to 2018’s 3 million

Electric vehicles

Electric vehicles slowly increase their presence worldwide. Source:

In the era of electric vehicles, China leads the market, followed by Europe and the US. However, according to GlobalData, large-scale commercial production of EVs by the big car makers is unlikely to take off until 2025.

A booming EV market increases economies of scale, thus leading to the EV battery prices cuts. Battery factories around the world have scaled up for the EV’s batteries production.

Power companies are showing increased interest in EV programs. Utility programs are offering discounts and rebates on the purchase of EVs or charging equipment, free smart charge installation, along with EV time-of-use plans (on-peak and off-peak rate plans) for EV owners. Power utilities are collaborating with EV manufacturers for boosting their offerings in areas such as EV charging, vehicle-to-grid (V2G) services, energy storage and renewable energy sources
Sneha Susan Elias, Senior Analyst of Power at GlobalData

Recently, Engie SA, a major French utility company, was involved in the acquisition of ChargePoint Services, a provider of integrated EV charging solutions, from Gresham House. It will boost Engie’s existing EV capabilities and will set up Engie as an EV infrastructure company in the UK.

Shell has also announced to buy Greenlots, a leader in providing EV charging and energy management software and solutions in the US. This way, Greenlots will strengthen its growth efforts and enable global expansion of its mobility services across utilities, cities, automakers, fleets, and drivers.


Pay Space

6724 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.