For the past decade, electric vehicles (EVs) have been slowly gaining popularity everywhere in the world. In the past few years, however, what used to be an automotive niche market has become a significant segment of the industry. In 2022, over 10 million EVs rolled out of dealerships, accounting for 1 out of every 7 cars sold globally. Europe and China are leading the shift to automotive electrification, with EV sales accounting for 20% and 25% of their 2022 auto sales, respectively.
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