A rise in Government initiatives to go electric, along with a rise in demand for zero emission vehicles, especially in the logistics and e-commerce sector, could fuel the commercial electric vehicle (EV) market. According to a MarketsandMarkets research report, the electric commercial vehicle market, which was at an estimated 129,000 units last year, is expected to reach 2,026 thousand units by 2028. That indicates a compounded annual growth rate (CAGR) of 41.1%.
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