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US Electric Vehicle Market Poised for Surge at 25.4% CAGR, Reaching Nearly USD 233.46 Billion by 2030

06-28-2024 08:24 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ก๐š๐ฌ ๐ฐ๐ข๐ญ๐ง๐ž๐ฌ๐ฌ๐ž๐ ๐ซ๐ž๐ฆ๐š๐ซ๐ค๐š๐›๐ฅ๐ž ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ 2024-2030

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ (๐‚๐€๐†๐‘):

The US Electric Vehicle Market, valued at USD 38.18 billion in 2023, is projected to grow at a robust CAGR of 25.4% from 2024 to 2030. By 2030, the market is expected to reach approximately USD 233.46 billion, driven by increasing consumer demand and supportive government policies. The US electric vehicle (EV) market has witnessed remarkable growth, evolving from niche adoption to becoming a significant player in the automotive sector.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐˜๐จ๐ฎ๐ซ ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ˆ๐ง๐ฌ๐ญ๐š๐ง๐ญ๐ฅ๐ฒ: https://www.maximizemarketresearch.com/request-sample/63467/

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐•๐š๐ซ๐ข๐š๐ญ๐ข๐จ๐ง๐ฌ: ๐–๐ก๐š๐ญ ๐’๐ก๐จ๐ฎ๐ฅ๐ ๐–๐ž ๐„๐ฑ๐ฉ๐ž๐œ๐ญ?

Despite a general downturn in the automotive industry in 2022, the US electric vehicle segment continued to expand significantly. EV sales surged by 65% in 2022, reaching over 800,000 units. This growth trajectory underscores shifting consumer preferences towards sustainable transportation solutions.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

The landscape of the US electric vehicle market is diverse and competitive, with established players like Tesla and emerging contenders such as Rivian and Lucid Motors gaining traction. Tesla remains a dominant force with innovations in supply chain management and technology integration, maintaining its market leadership.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐œ๐จ๐ฉ๐ž ๐š๐ง๐ ๐Œ๐ž๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ:

The market scope covers various vehicle types including Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs). The methodology involves detailed market analysis, competitive benchmarking, and strategic insights into market leaders and their initiatives.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ: ๐–๐ก๐จ'๐ฌ ๐„๐ฑ๐ฉ๐ž๐ซ๐ข๐ž๐ง๐œ๐ข๐ง๐  ๐ญ๐ก๐ž ๐‡๐ข๐ ๐ก๐ž๐ฌ๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก?

While California leads in EV adoption due to favourable regulations and infrastructure, other states are rapidly catching up. The expansion of charging infrastructure nationwide, with an increase in charging stations by 21% to 165,000 ports in 2023, supports regional market growth.

๐€๐œ๐œ๐ž๐ฌ๐ฌ ๐˜๐จ๐ฎ๐ซ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ + ๐•๐ข๐ฌ๐ฎ๐š๐ฅ๐ฌ ๐๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/63467/

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

Segmentation analysis reveals a growing preference for larger EVs such as trucks and SUVs, which accounted for 78% of new vehicle sales in 2021. This trend is expected to continue with the introduction of new models catering to diverse consumer needs.

๐๐ฒ ๐“๐ฒ๐ฉ๐ž,
BEV
PHEV
HEV

๐๐ฒ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐“๐ฒ๐ฉ๐ž,
Two-wheeler
Passenger car
Commercial vehicle

Anticipating a boom in EV usage, General Motors (GM) hopes to reach profitability in its North American US Electric Vehicle Market portfolio by 2025. In order to improve customer experience and cut costs, the business intends to actively pursue EV leadership by introducing several EVs in important segments and developing a digital retail platform with U.S. dealers. To take the lead in the EV industry, GM is calculatingly employing five assembly factories, BrightDrop's EV and software solutions, and Ultium Cells, a joint venture for battery cells. In addition to securing raw resources, the corporation has prioritized sustainability and kept traditional car categories profitable. With its all-encompassing approach, GM is positioned to be a formidable competitor in the cutthroat US electric vehicle market.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

The US electric vehicle market is characterized by intense competition among manufacturers. Tesla, Rivian, General Motors, Ford, and other global automakers are investing heavily in EV production, battery technology, and sustainable manufacturing practices to gain market share.

1. Tesla
2. Lucid Motors
3. Rivian
4. BMW
5. Mercedes Benz
6. Nissan
7. Volkswagenโ€Ž
8. General Motors
9. National Motor Vehicle Company
10. Nikola Corporation
11. Kia
12. Ford
13. Volvo
14. Toyota
15. Hyundai

๐‚๐จ๐ง๐œ๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง:

In conclusion, the US electric vehicle market is poised for significant expansion fueled by technological advancements, environmental consciousness, and supportive regulatory frameworks. With projected milestones like electrifying federal fleets and expanding charging infrastructure, the market is set to redefine the future of automotive mobility in the United States.

๐”๐ง๐œ๐จ๐ฏ๐ž๐ซ ๐ˆ๐ง-๐ƒ๐ž๐ฉ๐ญ๐ก ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ: https://www.maximizemarketresearch.com/market-report/us-electric-vehicle-market/63467/

๐ˆ๐ง๐๐ž๐ฑ (๐“๐Ž๐‚): ๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ

โ™ฆ ๐„๐ฑ๐ž๐œ๐ฎ๐ญ๐ข๐ฏ๐ž ๐’๐ฎ๐ฆ๐ฆ๐š๐ซ๐ฒ: A concise overview of the market's size, growth potential, and key trends.
โ™ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐œ๐จ๐ฉ๐ž: A clear definition of the market's boundaries and the products or services it encompasses.
โ™ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž: A detailed analysis of the market's current state, including major players, competitive landscape, and market dynamics.
โ™ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ข๐ณ๐ข๐ง๐ : A breakdown of the market's size by revenue, volume, or other relevant metrics, with historical data and future projections.
โ™ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง: A categorization of the market based on various factors like customer type, product category, and geographical location.
โ™ฆ ๐…๐ข๐ฏ๐ž ๐…๐จ๐ซ๐œ๐ž๐ฌ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ: An evaluation of the competitive landscape using Porter's Five Forces framework, identifying bargaining power of buyers and suppliers, threats of new entrants and substitutes, and competitive rivalry.
โ™ฆ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ž๐ซ ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž: An in-depth exploration of the market's customer base, their needs, buying behavior, and decision-making processes.
โ™ฆ ๐†๐ž๐จ๐ ๐ซ๐š๐ฉ๐ก๐ข๐œ ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž: An analysis of the market's geographic distribution, highlighting key regions and growth opportunities.
โ™ฆ ๐ƒ๐ž๐œ๐ข๐ฌ๐ข๐จ๐ง ๐…๐ซ๐š๐ฆ๐ž๐ฐ๐จ๐ซ๐ค: A practical guide to help you make strategic decisions based on the market insights presented.
โ™ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐‚๐ก๐š๐ฅ๐ฅ๐ž๐ง๐ ๐ž๐ฌ: An examination of the key factors that propel the market forward and the potential obstacles that might hinder its growth.
โ™ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ: An exploration of the current and emerging trends that will shape the future of the market.
โ™ฆ ๐•๐ž๐ง๐๐จ๐ซ ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž: An overview of the major vendors operating in the market, including their product portfolios and market share.
โ™ฆ ๐•๐ž๐ง๐๐จ๐ซ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ: A detailed assessment of the strengths, weaknesses, opportunities, and threats (SWOT analysis) of key vendors.

This comprehensive guide empowers you to gain a strategic advantage in the US Electric Vehicle market. Utilize the insights within to navigate the competitive landscape, identify growth opportunities, and make informed business decisions.

๐Š๐ž๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:

โ€ข What is US Electric Vehicle?
โ€ข What was the US Electric Vehicle market size in 2023?
โ€ข What is the growth rate of the US Electric Vehicle Market?
โ€ข Who are the leading companies and what are their portfolios in US Electric Vehicle Market?
โ€ข Which is the fastest growing region in the ##market?
โ€ข What are the different segments of the US Electric Vehicle Market?
โ€ข What segments are covered in the US Electric Vehicle Market?
โ€ข Who are the key players in the US Electric Vehicle market?
โ€ข Which are the factors expected to drive the US Electric Vehicle market growth?
โ€ข What is the CAGR at which the ## market will grow during the forecast period?
โ€ข What are the upcoming opportunities and trends for the US Electric Vehicle Market?
โ€ข What are the recent industry trends that can be implemented to generate additional revenue streams for the US Electric Vehicle Market?
โ€ข What growth strategies are the players considering to increase their presence in US Electric Vehicle?

๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

โ€ข Past Market Size and Competitive Landscape (2018 to 2022)
โ€ข Past Pricing and price curve by region (2018 to 2022)
โ€ข Market Size, Share, Size & Forecast by different segment | 2024-2030
โ€ข Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
โ€ข Market Segmentation - A detailed analysis by segment with their sub-segments and Region
โ€ข Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o Competitive landscape - Market Leaders, Market Followers, Regional player
o Competitive benchmarking of key players by region
โ€ข PESTLE Analysis
โ€ข PORTER's analysis
โ€ข Value chain and supply chain analysis
โ€ข Legal Aspects of Business by Region
โ€ข Lucrative business opportunities with SWOT analysis
โ€ข Recommendations

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐“๐จ๐ฉ๐ข๐œ๐ฌ:

1. Industrial Truck Market: https://www.maximizemarketresearch.com/market-report/global-industrial-truck-market/89961/

2. Virtual Networking Market https://www.maximizemarketresearch.com/market-report/global-virtual-networking-market/63405/

3. Fish Powder Market https://www.maximizemarketresearch.com/market-report/fish-powder-market/124649/

4. Cereal Ingredients Market https://www.maximizemarketresearch.com/market-report/global-cereal-ingredients-market/118058/

5. Primary Packaging Market https://www.maximizemarketresearch.com/market-report/global-primary-packaging-market/111324/

6. Produced Bags Market https://www.maximizemarketresearch.com/market-report/global-produced-bags-market/107582/

7. Cooler Box Market https://www.maximizemarketresearch.com/market-report/global-cooler-box-market/110338/

8. Power Management System Market https://www.maximizemarketresearch.com/market-report/global-power-management-system-market/1157/

9. Cooling Tower Market https://www.maximizemarketresearch.com/market-report/global-cooling-tower-market/107699/

10. Automotive Test Equipment Market https://www.maximizemarketresearch.com/market-report/global-automotive-test-equipment-market/25407/

๐Ž๐ฎ๐ซ ๐€๐๐๐ซ๐ž๐ฌ๐ฌ:

MAXIMIZE MARKET RESEARCH PVT. LTD.
โฎ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
โœ† +91 9607365656
๐Ÿ–‚ sales@maximizemarketresearch.com
๐ŸŒ www.maximizemarketresearch.com

๐‘๐ž๐ ๐š๐ซ๐๐ข๐ง๐  ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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WealthTech Solutions Market was valued at USD 6.47 Billion in 2023, and it is expected to reach USD 17.83 Billion by 2030, exhibiting a CAGR of 15.58% during the forecast period (2024-2030). WealthTech Solutions Market Overview The global WealthTech Solutions Market is undergoing a transformative phase, driven by changing customer preferences, digital innovation, and evolving financial landscapes. WealthTech solutions provide digital tools and platforms that enhance operational efficiency for financial advisors, wealthโ€ฆ
Rapid Test Market Projected to Reach USD 80.07 Billion by 2032 with 8.81% CAGR Growth
10-09-2025 | Health & Medicine
MAXIMIZE MARKET RESEARCH PVT. LTD.
Rapid Test Market Projected to Reach USD 80.07 Billion by 2032 with 8.81% CAGR G โ€ฆ
Global Rapid Test Market size was valued at USD 40.75 Bn. in 2024 and the total Rapid Test Market is expected to grow by 8.81% from 2025 to 2032, reaching nearly USD 80.07 Bn. Rapid Test Market Overview The global Rapid Test Market is witnessing significant growth, driven by the increasing demand for fast, accessible diagnostic solutions across healthcare settings and home-care applications. Rapid tests are designed to detect the presence ofโ€ฆ
Agarwood Oil Market Set to Approach USD 497 Million by 2032, Driven by 5.42% CAGR Growth
10-09-2025 | Food & Beverage
MAXIMIZE MARKET RESEARCH PVT. LTD.
Agarwood Oil Market Set to Approach USD 497 Million by 2032, Driven by 5.42% CAG โ€ฆ
Global Agarwood Oil Market size is expected to reach nearly US$ 496.84 Mn by 2032 with the CAGR of 5.42% during the forecast period. Agarwood Oil Market Overview Agarwood Oil, derived from the resinous wood of Aquilaria trees primarily found in Southeast Asia, is highly valued for its aromatic and therapeutic properties. Formed when the wood is infected by yeast, pests, or microbes, the oil possesses antimicrobial, antioxidant, anti-inflammatory making it widelyโ€ฆ

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06-26-2025 | IT, New Media & Software
The Business Research Company
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke โ€ฆ
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations. How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025? The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. Theโ€ฆ
05-26-2023 | Advertising, Media Consulting, โ€ฆ
Allied Market Research
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, โ€ฆ
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031. Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technologicalโ€ฆ
02-20-2023 | Advertising, Media Consulting, โ€ฆ
Allied Market Research
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V โ€ฆ
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025. To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245 Global truck platooning market is segmentedโ€ฆ
02-20-2023 | Advertising, Media Consulting, โ€ฆ
Allied Market Research
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, โ€ฆ
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031. Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel theโ€ฆ
12-09-2022 | Advertising, Media Consulting, โ€ฆ
Allied Market Research
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, โ€ฆ
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031. Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122 Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission andโ€ฆ
12-06-2022 | Advertising, Media Consulting, โ€ฆ
Allied Market Research
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V โ€ฆ
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),โ€ฆ