NEV Taxi Market Competition By Suppliers, Market Size, Market Trend And Forecasts 2021-2031
NEV Taxi Market: Introduction According to the report, the global NEV taxi market is projected to surpass US$ 29.2 Bn by 2031, expanding at a CAGR of 26.64% during the forecast period. NEV (New Energy Vehicle) taxi, also called electric taxi, is either fully or partially powered by electricity. The term ‘NEV’ is used by the Government of China for electric vehicles. Rising transportation pollution needs a complete solution that can curtail pollution, which is provided by a NEV taxi. The adoption of NEV taxi is also projected to reduce the running and maintenance cost of the taxi, which, in turn, is anticipated to propel the NEV taxi market during the forecast period. Rise in concerns about tail pipe emissions has led the transportation regulatory authorities of various countries to enforce stringent laws end emission norms to control pollution levels. These regulatory transformations are encouraging automakers and customers to opt for environment-friendly vehicles, thus fueling ...