The impact of alternative fuel vehicles—which include not only EVs (electric vehicles), but also vehicles that run on biodiesel, hydrogen, natural gas, and other alternative fuels—on the future transportation infrastructure will be significant. For instance, MarketsandMarkets projects by 2030, almost 27 million EV units will sell, compared to just over 3 million EV units in 2019. And even though the global EV market had begun to flatten in the past year due to changing government incentives and phased-out subsidies in the U.S., and then it took a deep plunge earlier this year as a result of the COVID-19 pandemic, the overall trend toward more sustainable transportation modes and alternative fuels is expected to win out in the long run, eventually giving way to fully autonomous vehicles.
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