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A vehicle that uses one or more electric motors for propulsion is referred to as an electric vehicle (EV). It can be driven independently by a battery, a collector system, or electricity from extravehicular sources (sometimes charged by solar panels, or by converting fuel to electricity using fuel cells or a generator).
Road and rail vehicles, surface and underwater watercraft, electric airplanes, and electric spacecraft are all examples of EVs. For road cars, EVs form a future mobility concept known as Connected, Autonomous, Shared and Electric (CASE) Mobility along with other upcoming automotive technologies including autonomous driving, connected vehicles, and shared mobility.
An electric motor powers an electric vehicle (EV) as opposed to an internal combustion engine, which produces power by burning a mixture of fuel and gases. Therefore, in order to solve issues such as increased pollution, global warming, the depletion of natural resources, etc., such a vehicle is considered as a potential substitute for current-generation automobiles.
Even though the idea of electric cars has been around for a while, it has attracted a lot of attention in the last ten years due to the growing carbon footprint and other environmental effects of fuel-powered cars.
The Lesotho Electric Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Lesotho Electric Vehicle Market is anticipated to grow .By volume, this market is projected to grow reaching millions units.Government policies and laws in Lesotho that are favourable, rising investments by top automakers, and falling battery prices are all credited for driving this industry expansion.
This market has abundant room to grow as a result of rising EV and battery manufacturing capacity and rising acceptance of electric mobility in developing nations.The COVID-19 pandemic outbreak had a significant negative influence on a number of industries, notably the automotive industry in Lesotho.
Major firms were forced to fully shut down or operate at reduced capacity as a result of the government-issued regulations. The nationwide quarantines and lockdowns had a significant impact on the automotive industry as well. Industry found it more challenging due to uncertainty surrounding the length of the closure and supply-chain interruptions.
