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Will Electric Vehicles be a Boon for Auto Component Manufacturers?
August 14, 2023–Researched by Industrial Info Resources (Sugar Land, Texas)–With changing consumer preferences, increasing environmental consciousness and improving technology, the automotive industry is transitioning. According to the Global EV Outlook 2023 by the International Energy Agency (IEA), about 14% of all the new cars sold in 2022 were electric, up from about 9% in 2021. This share is expected to grow as manufacturers continue to address key deciding factors, such as vehicle range and battery costs.
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