MarketsandMarkets Presents

The Automotive Industry is expected to grow at highest CAGR from 2023 to 2028

It is estimated that in many countries, petrol and diesel automobiles will be banned by the next few decades, and EVs will dominate the global automotive market. However, EVs have some drawbacks, such as long charging times and a limited driving range. This has pushed manufacturers to collaborate with or invest in battery manufacturers to improve capacity, performance, charge times, and driving range. Automotive companies are taking initiatives to support the development of silicon anode batteries for electric vehicles by making partnerships and investing in silicon battery technology companies.