August 14, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--With changing consumer preferences, increasing environmental consciousness and improving technology, the automotive industry is transitioning. According to the Global EV Outlook 2023 by the International Energy Agency (IEA), about 14% of all the new cars sold in 2022 were electric, up from about 9% in 2021. This share is expected to grow as manufacturers continue to address key deciding factors, such as vehicle range and battery costs.
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