The Plug In Electric Vehicle (PEV) market is a subset of the larger Electric and Hybrid Vehicle (EHV) market. PEVs are powered by an electric motor and a battery, and are recharged by plugging into an external power source. PEVs are distinct from other EHVs in that they are designed to be recharged from an external source, rather than relying on an internal combustion engine or regenerative braking. PEVs are typically more efficient than other EHVs, and have a lower environmental impact. PEVs are becoming increasingly popular due to their convenience and environmental benefits. Governments around the world are offering incentives to encourage the adoption of PEVs, such as tax credits and subsidies. Notable companies in the PEV market include Tesla, Nissan, BMW, Volkswagen, and General Motors. Show Less Read more
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