From struggling to sell a million plug-in electric vehicles in 5 years (2011-2015), to being able to sell a million plug-in EVs in six months consistently, it evidently suggests that the electric vehicle revolution is well and truly under way. Developed as well as developing economies have effectively laid out plans to ensure adoption of electric vehicles.
However, considering that EVs were only a minor 2.4% of the total vehicles sold in 2018 suggests that in order to be competitive with IC engine vehicles, the stakeholders in EV ecosystem must identify and adopt new forms of technologies.
Therefore, BIS Research identifies the N.E.E.D. concept that helps stakeholders make focused efforts on their areas of specialization to ensure the collective growth of electric vehicles.