The global new energy car market is evaluated at US$118.244 billion for the year 2019 and is estimated to reach US$521.277billion by 2025 growing at a CAGR of 28.05%. The continually growing selection of electric vehicles in both developed and developing economies of the globe attributable to the developing disposable income, expanding fuel costs, and expanded government spending for the setting up of an important foundation for the simple deployment of electric vehicles.