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One or more electric motors are used in an electric vehicle (EV) to provide propulsion. It can be run on electricity from extravehicular sources, a collector system, or a battery that powers it on its own (sometimes charged by solar panels, or by converting fuel to electricity using fuel cells or a generator).
Electric vehicles (EVs) include, but are not limited to, surface and underwater craft, electric aeroplanes, and electric spaceships. EVs initially appeared when electricity was one of the preferred forms of motor vehicle propulsion. At the time, gasoline-powered cars were unable to match the degree of comfort and convenience of operation that electricity offered. The predominant form of propulsion was internal combustion engines.
Due to technology advancements, a greater emphasis on renewable energy, and the possibility to lessen the impact of transportation on climate change, air pollution, and other environmental issues, EVs have had a comeback . Electric vehicles are ranked among the top 100 modern options to combating climate change by Project Drawdown.
The market for the vehicles is expanding as a result of government incentives to boost adoption, especially in the US and the EU. The market for electric vehicles is anticipated to grow significantly as a result of rising public interest, awareness, and structural incentives, such as those incorporated into the green recovery from the COVID-19 epidemic.
The Ethiopia Electric vehicle market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
Anxieties about the environment and problems with the security of the energy supply can be reduced by encouraging the development of green technology and switching to electric vehicles from fossil fuel ones. The infrastructure for charging electric vehicles must be upgraded and expanded to keep up with the rapidly growing demand for this form of transportation.
Before Marathon Motors Engineering launched the first electric vehicle charging stations, Ethiopia established a pro-electric vehicle policy and exempted them from excise.
