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An electric vehicle is one that uses an electric motor instead of a conventional gasoline/diesel engine. This electric motor is powered by rechargeable batteries that can be charged with the electricity that is normally used in a household.
Electric automobiles are not new. At that time, there were approximately twice as many electric cars on the road as there were petrol/diesel cars. As a result, interest in automobiles skyrocketed.
As the number of electric cars decreased, it became less interesting. The reason for this was that electric cars had limited range and top speeds.
Additionally, the electric starter motor was developed for gasoline-powered automobiles, eliminating a common disadvantage of gasoline-powered vehicles: utilizing a hand wrench to get the vehicle going.
The Lithuania Electric car market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
When Henry Ford’s company began mass-producing the Model T, it was the final nail in the electric car coffin. As a result, the price of a gasoline car was roughly half that of an electric car, and almost all electric car manufacturers began to stop making them.
The energy crises rekindled interest in electric vehicles; People may see the advantages of battery-powered automobiles as the price and availability of oil become more and more unpredictable.
A few big car manufacturers released models, some of which were sold to people who cared about the environment. However, electric vehicles were still outperforming their gasoline-powered counterparts in terms of style and cost.
In conjunction with yet another fuel crisis and the development of hybrid vehicles, more people than ever before adopted the technology.
Tesla’s Roadster, which went marked down , was a unique advantage for the business. The Roadster’s attractive design and extended range attracted a larger market than ever before, inspiring rivals Nissan and Chevrolet to introduce their own models.
