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Electric Vehicles Set to Dominate Market by 2030, Bringing Social Benefits

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Overview of Plug-in Electric Vehicle Technologies
Krishnamoorthy Ramalingam, C.S. Indulkar

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Plug-in Electric Vehicles (PEVs) like Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) are expected to become popular in the transportation industry by 2030. This shift towards electric vehicles is important for reducing climate change and saving money on fuel. However, there are challenges like high costs and lack of charging stations. Despite government incentives, PEVs are not yet widely accepted by customers. Manufacturers are uncertain about the market, but are preparing to introduce more electric vehicles. Research is being done to improve technology, infrastructure, and market potential for PEVs. By addressing these issues, the use of PEVs can increase, helping to meet climate goals and conserve fossil fuels.