June 21, 2022
Source: Yahoo! Finance
People all over the world are affected by a serious environmental issue known as global warming. The major contributors to this rising problem of global warming are the excessive use of fossil fuels for transportation, and the rising emissions from the transportation industry, which according to the statistics by the International Energy Agency (IEA), recorded emissions of 8.5Gt in the year 2019. As a result, there is a growing effort to find sustainable alternatives to fossil fuels. According to a survey conducted in early 2022, about 45 percent of consumers globally preferred to walk, cycle, take public transportation or adopt green transportation methods instead of driving a vehicle to reduce their carbon footprint.
Read more: Global Electric Bikes Market Generated Around USD 45 Billion in 2021 and is Expected to Grow with a CAGR of ~8% During 2022–2030