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The term “EV,” which stands for “Electric Vehicle,” is frequently used to describe any vehicle whose propulsion system is powered by electricity.
In contrast to hybrid vehicles, which rely on both an engine and a motor, plug-in hybrids and all-electric vehicles can all be referred to as electric vehicles (EVs), however this usage is more common when recharging plug-in hybrids.
EVs can be charged at various well-known spots throughout the island using public chargers provided by Mega power Ltd, or a charger can be placed at my home or place of employment to charge my electric car.
The Barbados Electric Vehicle 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.
Despite the nation’s quest for increasing usage of electric vehicles, Barbadians’ thirst for hybrid cars is expanding. Governor of the Central Bank Clevis ton Haynes anticipates that the demand will increase as a result of lower import duties that went into effect on Monday.
Over the past two years, the proportion of renewable energy vehicles to all imported vehicles has been continuously rising, and currently accounts for an average of 17% of all imported automobiles.
But the main factor driving this expansion is a rise in domestic demand for hybrid cars. 74.6 percent of all imported alternative energy vehicles were hybrids, 24.7% were battery electric, and the other vehicles were either fuel cell or natural gas vehicles.
Mega power’s headquarters and initial big project are in Barbados. Mega power has overseen the importation of electric vehicles and built the entire island’s charging infrastructure from scratch. Mega power has constructed solar carports that use solar panels to charge the vehicles as a result of becoming the authorized importer of Charge Master and Rolex chargers.
