Global EV Battery Swapping Market Revenue Surged To $148.2 Million in 2020: P&S Intelligence
NEW YORK, July 19, 2021 /PRNewswire/ — The increasing levels of air pollution in several countries are fueling the demand for electric vehicles (EVs). However, sufficient charging infrastructure is required for the large-scale adoption of EVs, as the availability of an adequate number of charging facilities eliminates the problems associated with EVs such as their limited range of mobility. This is driving the demand for battery swapping technology, as this technology solves the problem of slow charging at charging stations. Because of these factors, the global electric vehicle battery swapping market reached a revenue of $148.2 million in 2020 and it is expected to exhibit huge expansion during 2021–2030, according to P&S Intelligence.