Electric vehicles (EVs) are a groundbreaking technology in the sustainability market.The transportation sector is one of the biggest culprits behind the deteriorating air quality across the world. The rising carbon footprints on our roads accelerate climate change, affecting our overall well-being.According to the latest analysis by Emergen Research, the global Electric Vehicle (EV) motor controller market size is expected to reach USD 17.76 Billion in 2032. While EVs provide a clever solution to reducing the carbon footprint of the transportation sector, their mass adoption remains a challenge.Why Are EVs Away from Mass Adoption?EVs, powered by electricity, are cheaper in terms of operational and maintenance expenses. But they don’t always justify the humongous initial investment of these vehicles. That explains why most of the world still prefers vehicles run on fossil fuels over the sustainable alternatives in EV.For people living in developing economies, in particular, it doesn’t make sense to buy an EV. To begin with, most of them can’t afford private vehicles. EV is out of the picture for people living from paycheck to paycheck. They don’t care about the higher energy efficiency and eco-friendliness of EVs when they have bills to pay.
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