Government Support the Key Electric Bus Charging Station Domain Growth Driver
Worldwide government support for the adoption of electric buses in transit fleets and development of related infrastructure is helping the electric bus charging station sector prosper. Since the implementation of the Kyoto Protocol in 2005, 192 nations have been more than committed toward reducing the vehicular carbon emission. In this regard, they are replacing the conventional buses in their public transport fleets with electric variants.
Further, the governments are also offering grants, tax rebates, and subsidies to encourage the development of charging stations. For instance, in 2018, the European Commission finalized a $82.7 million (EUR 70 million) budget for deploying electric buses in public fleet and installing charging stations. Similarly, in 2015, China took the initiative to construct 500,000 new electric bus charging stations in the next five years. As more nations commit to making the world greener, the electric bus charging station domain would grow further.
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Source@ P&S Intelligence
