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What impact have electric vehicles had on the automotive industry?
What impact have electric vehicles had on the automotive industry?
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Electric vehicles (EVs) have had a transformative impact on the automotive industry. They have prompted traditional automakers to invest heavily in electric technology and rethink their vehicle portfolios, leading to a surge in EV models from established brands. This shift has spurred innovation in battery technology, autonomous driving, and connected car systems. The rise of EVs has also influenced manufacturing practices, with companies increasingly focusing on sustainability and reducing the environmental footprint of their production processes. Additionally, the growth of the EV market has created new business opportunities, including charging infrastructure and battery recycling, reshaping the automotive landscape.