As per global forecasting and statistics, the EV industry is projected to grow from the current USD 246.74 billion to USD 985.72 billion in 2027. With more countries becoming more ecologically conscious and enacting tougher emission standards, this growth is inevitable. The rise in fuel prices and the environmental impact of traditional fuel vehicles have opened the door to alternative fuel vehicles on the market. Customers are increasingly inclined to use hybrid or battery-powered Cars which are expected to drive the market. All EV models use one or more electric motors for propulsion. Electricity is the main energy source of EVs. On a global scale, conventional vehicles are one of the reasons for air pollution. Therefore, it forces many government bodies to impose strict emission vehicle regulations on manufacturers to curb vehicle emissions. In recent years, the demand for EVs is increasing considerably among consumers. The maintenance cost of EVs is way less compared to traditional vehicles which is also an advantage over traditional vehicles.