The electric vehicle (EV) market is on fire, and 2024 is poised to be another banner year for this burgeoning industry. With Tesla still reigning supreme, a growing number of automakers are throwing their hats into the ring, offering a diverse range of EVs to suit every need and budget.

The automotive industry continues to witness a transformative shift towards electrification, with battery-electric vehicles (BEVs) playing an increasingly pivotal role in the global transportation landscape. According to the latest data released by the European Automobile Manufacturers' Association (ACEA), new car registrations in the European Union (EU), the United Kingdom (UK), and the European Free Trade Association (EFTA) experienced a moderate increase of 5.2% in March 2024 compared to the same month in 2023. Notably, BEVs continued to gain market share, accounting for a significant 13% of new car registrations in March 2024.