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Electric vehicle sales increased 50% in 2015, outpacing the overall car market by ten times, as hybrid electric cars and components like batteries and motors boom. There is a tendency to use electric speed drives with 5-15 kW capacities to power specific vehicles like golf carts and small buses. Permanent magnet synchronous motors and induction motors are commonly used in these drives. Spending on electric motors alone was $63 billion in 2013 and is projected to reach $302 billion by 2023, highlighting the importance of speed-drive technologies in reducing CO2 emissions and their environmental impact.
