Manufacturers of electric motors will see demand for their products soar over the next decade, according to new research.
A new report from market researchers IdTechEx says the electric vehicle business will approach $500bn (£226.7bn) in value by 2025. Over $25bn of the figure will come from traction motors, with anticipated sales of $8.9m. The report’s author Dr. Peter Harrop states sales of these motors could be bolstered by the increasing trend towards multi-motor vehicles.…
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