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Rivian Automotive, Inc.
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===='''Electric Vehicle Market''' ==== The automotive industry is undergoing a transformation as a result of increased environmental awareness and the need for sustainable transportation solutions. Electric vehicles (EVs) have emerged as a critical component of the industry's future as part of this shift. The global market for electric vehicles has experienced significant growth over the past decade and projected to grow at a compound annual growth rate of 10.07% between 2023 and 2028. Factors such as advancements in battery technology, government incentives, and increasing environmental awareness have contributed to the rising adoption of EVs. Governments around the world are actively promoting the adoption of EVs through various policy measures, such as the plug-in grant in the UK and tax incentives in the US.
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