The global electric car market is estimated to grow at a CAGR of more than 19.0% during the forecast period. As per the International Energy Agency, there were around 5.1 million electric vehicles globally with a sale of around 2 million EVs in 2018, however, a modest growth is witnessed in 2019, due to some policy changes. Some of the key factors driving the growth of the global electric car market include cohesive government regulations, subsidies on the electric car by the government, development of charging infrastructure, and stringent target to curb the carbon emission.
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