Report Studies
• The global "Drive Motor For New Energy Vehicles Market" was valued at USD 27.77 billion in 2023 and is projected to reach USD 45.79 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period (2024-2030).
• A drive motor for a new energy vehicle refers to the electric motor responsible for propelling the vehicle. It converts electrical energy from the vehicle's battery (or other power source) into mechanical energy to drive the wheels.
• These motors are a key component of electric and hybrid vehicles, providing efficient and environmentally friendly propulsion compared to traditional internal combustion engines.
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