Hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) are two other types of EVs (PHEVs). Electric vehicle sales have gradually gained traction in many regional markets, but the market remains insignificant compared to the global market for internal combustion engine-powered vehicles. As various projections show that electric vehicles will eventually dominate the automotive industry, many existing vehicle manufacturers and several new players have begun aligning their company goals toward producing electric vehicles. Government initiatives and policies for electric vehicles are contributing significantly to the advancement of this vision as electrification and adoption of electric vehicles continue. Over the last few decades, governments worldwide have been attempting to find ways to reduce the carbon dioxide emission rates of vehicles. The advancement of electric vehicle technology is a catalyst for reducing tailpipe emissions from ICE vehicles. Effective polici...