The Electric Vehicles (EV’S) market has experienced exponential growth in the last decade. In 2017, global sales volume reached 1.2 million, a 58% increase from the previous year. In total, there are more than 3 million EVs on the road, powered by approximately 400,000 charging stations.
China, the USA, and Europe dominate EV global production. Norway and Iceland have excelled in the European market through industry model EV-Renewable Energy integration.
According to the latest official data, the number of EVs in Armenia is no more than 33. Recent renewable energy and energy efficiency development in the country will stimulate growth in the EV market. Solar PV panels can serve as a reliable and affordable source of energy for charging vehicles, contributing to network optimization and energy accumulation.
The business community has expressed interest in this innovative technology with results soon to be released. During the ARMENIA EXPO 2018 international forum, ACBA Leasing CO CJSC recently presented leasing options for the Nissan Leaf electric vehicle as part of its Green Leasing program. The Armenian Energy Agency was the first purchaser of this vehicle through the Green Leasing program.
Moreover, the Agency is executing the PLUG.am a project, which aims to stimulate infrastructure development with the prospects of increasing the number of EVs in Armenia.

The history of Electric Vehicles dates back to 1827 when the Hungarian engineer Ányos Jedlik created the first EV. Mass interest in this technology re-emerged at the beginning of the 21st century.

The advantage of such vehicles is to replace fossil fuels as an energy source for transportation vehicles, resulting in the reduction of CO2 and other greenhouse gas emissions. Air pollution, smog, traffic noise, and other environmental issues can be resolved through this technology.