As consumers and businesses alike become more environmentally conscious, cars that utilize renewable energy as fuel are increasingly the focus of the automotive industry’s future. To help meet increased demand and pave the way for EVs, governments are offering incentives and rebates to encourage companies to develop and manufacture EVs.
A few hubs around the world are responsible for the production and manufacturing of a large share of the electric vehicles on the market today. China, in particular, has risen to the top of EV production, and other countries have followed suit with policies to encourage the production and sales of EVs. As EVs become more common, government rebates and incentives are being rolled back in areas around the world.
What does this mean for the future of electric cars? Demand is rising, with no sign of slowing down. While policy reversals could be taken as a sign of a struggling industry, the case of EVs may be the opposite. Governments may see the industry as stable, no longer seeing the necessity of providing an extra push to get production off the ground. As EVs become more affordable, tax credits and incentives may no longer be necessary for consumers to take the plunge and buy electric.
As some countries roll back their pro-EV policies, other countries are setting ambitious new fuel economy standards. EVs will be a major part of countries’ ability to reach these goals. Follow along as we take a deep dive into the countries disrupting the EV industry in terms of production, sales, and public policy in the infographic below.
Sources: EV Volumes | Inside EVs | Smart Energy | Quartz
Originally published in The Zebra.
