(MENAFN- PR Newswire) Asia Pacific region hold the major share in the new ECV sales, contributing over 50% in the market. The major factor for this is the intensive manufacturing and export of vehicles in China. The Chinese market is the worlds largest market in terms of vehicle sales as well as production. Moreover, the Chinese market has significantly grown post COVID halt. The recovery effect of the Economy in China has led to intensifying of the manufacturing sector. One of the key trends/strategies followed by the Chinese EV makers is expansion to the European market for EV sales expansion. Moreover, countries such as India, Singapore and South Korea significantly contribute to the growth of the ECV sector in the Asian region. In addition, the depot charging trends is rapidly developing in the Indian market with adoption of different types of business models.
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Key Market Players:
The major players in Future of CV Depot Charging Companies
include ABB (Switzerland), Blink (US), Bosch (Germany), bp pulse (UK), ChargePoint (US), EVgo (US), Heliox (Netherlands), Kempower (Finland), Shell Recharge (US), Siemens (Germany), Wallbox (Spain)
Recent Developments
In 2023, Ford partnered with Xcel Energy to provide 30,000 for home, public & depot charging points by 2030 in the US. In 2023, Total Energies launched an in-depot electric truck charging service at the SOLUTRANS road and urban transportation trade show. The new solution will help in installation and supervising charging infrastructure adapted to fulfil transporters' needs. In 2023, Siemens acquired Heliox, a specialist in e-Bus and e-Truck fast charging solutions and for depot and fleet solutions. In 2022, EV Connects, a subsidiary of Schneider Electric, launched an API platform the includes features like an API Sandbox, a virtual station simulator and payment gateway to speed up the development and integration of charging infrastructure. In 2022, ChargePoint raised $640 million in an initial public offering (IPO). Targeting to expand its service offerings, enhance operating models, acquire new customers and depot charging business in North America and Europe. In 2022, Tritium raised $150 million in a Series D funding round. The company plans to use the funds to expand its global footprint and increase its investment on R&D to develop new products for the depot charging market. In 2022, Siemens partnered with Electrify America to provide depot charging solutions for electric buses in North America. In 2022, ABB partnered with New Flyer to develop and deliver zero-emission bus charging solutions for cities across North America In 2021, BP Pulse acquired Amply power an EV fleet charging & Energy management solution company, to expand its global footprint.
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