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Global Electric Car Market was valued at US$ XXX Mn in 2019 and is expected to reach US$ XXX Mn by 2027, at a CAGR of XX% during a forecast period.
Major driving factors of the Electric Car Market are influencing by regulatory actions, customer choice, and the availability of specific models. Generous subsidies and tight regulation continue to drive much of the growth. Changes related to battery technology and charging infrastructure are boosting the market. Energy and petrochemical companies are committed to expanding charging infrastructure. The government policy has been at the forefront driving the switch to new energy vehicles. Poor charging infrastructure and shorter life span will act as a restraint to the market.
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