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Electric vehicle battery is one of the key elements of any electric vehicle. The lifespan of the electric vehicle battery depends on the energy density, which is a measure of how much amount of energy a battery can hold, and the higher the energy density is, the longer battery will last before it needs to be recharged. The electric vehicles get the power directly from the pack of battery, which comprises of thousands of individual battery cells working together. When an electric vehicle is charging, the electricity is used for making the chemical changes inside the battery and when it is on the road, these changes are reversed for the production of electricity.
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The key factors propelling the growth of the France electric vehicle battery market includes the increasing government investments and support for boosting the production of electric vehicle battery so as to reduce the reliance on Asia suppliers. For instance, in July 2019, the French government planned to invest €700 million over the next five years to ensure France to become a leader in electric vehicle battery technology. France and Germany entered into an agreement to invest jointly in the production of the electric vehicle battery along with the aim to export the batteries internationally. The rise in the production of electric vehicles owing to the growing environmental concerns and the rules on cutting the carbon emissions is leading to increase in demand for the electric vehicle battery market in the country. Additionally, the rising government incentives for the manufacturers for the production of ultra-low emission vehicles and batteries will propel the growth of electric vehicle battery market. The factors restraining the growth of electric vehicle battery market include the lack of awareness among the consumers of the added advantages of electric vehicles over the internal combustion model and the lack of proper charging infrastructure for such vehicles.
Read Full Report Description: France Electric Vehicle Battery Market by Battery Type (Lead Acid Battery, Lithium-Ion Battery, Nickel-Metal Hydride Battery and Solid State Battery), By Propulsion Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle and Hybrid Electric Vehicle) and By Vehicle Type (Two-Wheelers, Three-Wheelers, Electric Cars and Electric Buses & Trucks)— Opportunities & Forecast, 2019–2026
On the basis of battery type, the lithium-ion battery is anticipated to grow at a higher rate during the forecast period owing to its increased preference by the manufacturers of electric vehicles. This is due to the advantages offered by lithium-ion battery such as high energy density, lightweight, low maintenance & less space requirements.
Based on propulsion type, battery electric vehicle is projected to grow at a higher rate during the forecast period owing to the rising launch of various battery electric vehicle models by the manufacturers. The electricity cost that is associated with operating a battery electric vehicle over a distance of a mile is significantly lower than the cost of gasoline required to operate a comparable internal combustion engine vehicle over the same distance which also fuels the market growth of this segment. A battery electric vehicle is a pure electric vehicle that utilizes the chemical energy stored in the rechargeable battery packs. This type of vehicle uses motor controllers and electric motor for propulsion, unlike an ICE vehicle that uses the internal combustion engine and fuels for the operation.
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Based on vehicle type, the electric car is expected to grow at a higher rate during the forecast period owing to the increased demand from consumers in the country. Improving living standards and increasing government support for the adoption of electric vehicles is driving the market growth of this segment.
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Various notable players operating in the France electric vehicle battery market include Nissan, Saft Groupe S.A., ElecSys France, Liten CEA Tech, Tesla Inc., Groupe PSA, Renault, CEA (French Atomic Energy and Alternative Energies Commission), and Opel among others.
Key Market Developments:
The France electric vehicle battery market has been segmented on the basis of battery type, propulsion type, and vehicle type. Based on battery type, the market is segmented into lead acid battery, lithium-ion battery, nickel-metal hydride battery and solid state battery. Based on propulsion type, the market is segmented into battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle. The vehicle type market is segmented into two-wheelers, three-wheelers, electric cars and electric buses & trucks.
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