4. Hybrid and EV segment is hotly contested, with top manufacturers joining the race
Electric vehicle production is the current rage in the market today with the top car manufacturers joining the race to tap into an emerging market. Some of the leading manufacturers include Nissan, Toyota, Mercedes Benz, General Motors, and even the industry innovator- Tesla Motors. The fact that the leading manufacturers have laid their cards on the table suggests that there’s money on EVs and it’s the choice of the new generation of car drivers and consumers. And thanks to the ongoing competition among these different players, the ultimate winners are the consumers and the market. In the next few years, expect EVs with wider range at cheaper price points.