Industrial and commercial electric vehicles will be a similar market to cars but innovating faster and frequently more profitable for all in the value chain.
The most important sector is buses, where innovation often comes before cars because they are less price sensitive, says a report by UK company, IDTechEx Research.
The report concludes that the market for medium and large hybrid and pure electric buses will be over $165 billion in 2027.
With the Chinese are now dominating the league table, buying the most buses and innovating rapidly, they are already creating the lowest cost base by far.
