The electric vehicle(EV)market in the US is expected to rise at a compound annual growth rate(CAGR)of 43.39%during 2011-2015,according to a new report.
TechNavio's report,'Electric Vehicle Market in the US 2011-2015',revealed that one of the main factors attributing to the market growth is the rise in number of advanced vehicle technology projects in the US.
According to the report,the EV market in the country witnessing rise along with the Electric Vehicle Charging Infrastructure market.
The report however revealed that the high cost of electric vehicles is posing as a barrier before the growth of the market in the country.
Leading vendors dominating the US EV market space include Nissan Motor,General Motors(GM),Tesla Motors,Fisker Automotive,and Smith Electric Vehicles.
