November 25, 2020


LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive bicycle rack market and it is poised to grow by USD 820.00 million during 2020-2024, progressing at a CAGR of about 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please request Latest Free Sample Report on COVID-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Allen Sports USA, Atera GmbH, Car Mate Mfg. Co. Ltd., Kuat Innovations, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, Tyger Auto Inc., VDL Groep BV, and Yakima Products Inc. are some of the major market participants. Although the increasing demand for adventure tourism will offer immense growth opportunities, decreased fuel efficiency of vehicles will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Automotive Bicycle Rack Market 2020-2024 : Segmentation

Automotive Bicycle Rack Market is segmented as below:

  • Product
    • Hitch-mounted Rack
    • Roof-mounted Rack
    • Trunk-mounted Rack
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • MEA

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Automotive Bicycle Rack Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive bicycle rack market report covers the following areas:

  • Automotive Bicycle Rack Market size
  • Automotive Bicycle Rack Market trends
  • Automotive Bicycle Rack Market industry analysis

This study identifies the growing popularity of ride sharing and car-pooling as one of the prime reasons driving the automotive bicycle rack market growth during the next few years.

Automotive Bicycle Rack Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the automotive bicycle rack market, including some of the vendors such as Allen Sports USA, Atera GmbH, Car Mate Mfg. Co. Ltd., Kuat Innovations, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, Tyger Auto Inc., VDL Groep BV, and Yakima Products Inc. Backed with competitive intelligence and benchmarking, our research reports on the automotive bicycle rack market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Automotive Bicycle Rack Market 2020-2024 : Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive bicycle rack market growth during the next five years
  • Estimation of the automotive bicycle rack market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive bicycle rack market
  • Analysis of the market’s

SAN DIEGO, Nov. 12, 2020 /PRNewswire/ — Green energy technology company Nuvve Corporation (“Nuvve”), the global leader in vehicle-to-grid (V2G) technology, and Newborn Acquisition Corp. (“Newborn”) (NASDAQ:NBAC, NBACU, NBACR, NBACW) a publicly traded special purpose acquisition company with approximately $57.5 million of cash in trust, today announced the signing of a definitive merger agreement to take Nuvve public. The companies today also announced the signing of definitive purchase agreements with institutional investors for the investment of approximately $18 million in the combined company through a PIPE and bridge financing. Upon closing of the business combination, the combined company will be named Nuvve Holding Corp. (“Nuvve Holding”) and is expected to remain listed on Nasdaq under the ticker symbol “NVVE”.

Nuvve’s proprietary V2G technology enables it to link multiple electric vehicle (EV) batteries into a virtual power plant (VPP) to provide bi-directional services to the electrical grid in a qualified and secure manner. The VPP can generate revenue by selling excess power to utility companies or utilizing the saved power to reduce building energy peak consumption.

Gregory Poilasne, CEO and Chairman of Nuvve Corporation, stated, “Since our founding in 2010, Nuvve has successfully delivered its patented and proprietary vehicle-to-grid technology and services to fleet customers, grid operators, electric utilities and other stakeholders around the world. We have likewise partnered and integrated with multiple automotive manufacturers and electric utilities worldwide to enable adoption of V2G technology. To date, Nuvve is the only company in the world qualified with several system operators to commercially provide V2G grid flexibility services to electric utilities and system operators from batteries of electric vehicles.”

Nuvve holds a global portfolio of key V2G technology patents covering bi-directional capabilities and grid services with aggregated electric vehicles and has continued to build on its intellectual property portfolio by advancing V2G technology with commercial EV fleet deployments with both light-duty and heavy-duty vehicles.

Nuvve’s most established commercial operation is in Denmark, where it has provided V2G services for more than 4 years with daily bidding on energy markets. Following recent announcements with leading OEMs in the North American electric school bus segment, Nuvve is further developing its offerings by combining its turnkey V2G solutions with finance packages to customers, including equipment financing, V2G services, infrastructure and maintenance operations. Independent industry analysts have projected the global V2G technology market to be worth over $17 billion by 2027.

Mr. Poilasne added, “The rapid adoption of EV is driving the need for vehicle-grid integration, which are your more common one-way electric charging stations. While Nuvve is able to manage this one-way vehicle-grid integration, we believe that the integration of bi-directional vehicle-to-grid capabilities will help to stabilize the grid and reduce the overall cost of EV ownership, which will be critical to long-term EV adoption. The Nuvve system has successfully lowered the cost of electric vehicle ownership, while supporting the integration of renewable energy for a scalable and sustainable green society. We look forward to leveraging this business combination to accelerate the commercialization


LOS ANGELES, Nov. 12, 2020 /PRNewswire/ —  EVgo, the nation’s largest public fast charging network for electric vehicles — and the only one powered by 100% renewable energy — today announced the launch of a new EV charging discount program for rideshare drivers on Uber‘s platform, as both companies work to accelerate the adoption of zero-emission transportation.


Sustainability is a team sport, and the path to zero-emissions is being laid with partnerships like these.

As part of a shared sustainability mission, the two companies are working together to enhance access to EVgo’s network for Uber drivers and encourage mass adoption of electric vehicles.

Uber and rideshare drivers often rely heavily on public charging since they are out on the road and away from residential charging options most of the time.

More affordable access to the largest public fast charging network in the United States, operated by EVgo, helps drivers address key barriers to going electric. According to a 2019 EVgo study, rideshare drivers that spend more than 40 hours per week driving can clock 3-7 times more miles than an average EV owner, requiring them to charge multiple times per day in some cases. Additionally, rideshare drivers need more urban fast charging solutions they can access away from home. As drivers look for affordable ways to transition to EVs, many – such as those who rent – will face limited at-home charging options and won’t be able to start each day on a full charge. Rental households make up 36% of all housing units and tend to lack access to at- or near-home charging.

This new program, which officially goes live today, gives Uber drivers access to discounted rates based on their Uber Pro status, waived monthly fees and expanded session time limits at EVgo’s more than 800 fast charging locations.

More charging for rideshare drivers means more impact. Recently published research shows that communities can realize three times greater emissions savings when higher-utilization drivers, like those on rideshare networks, can make a fair transition to EVs compared to average car owners. Greenhouse gas (GHG) emissions from transportation account for about 28% of total U.S. greenhouse gas emissions, making it the largest contributor to emissions. Electrifying rideshare not only decarbonizes the highest mileage vehicles on the road but also provides an opportunity for increasing awareness of EVs for riders.

In early September 2020Uber announced its commitment to become a zero-emission mobility platform with several key actions, including $800 million in resources to help hundreds of thousands of drivers to transition to EVs by 2025, and the expansion of “Uber Green” which gives riders the option to choose an electric or hybrid ride.

“Combining Uber’s reach in rideshare and food delivery with EVgo’s national charging infrastructure network presents a huge opportunity for encouraging faster adoption of EVs,” said Cathy Zoi, CEO of EVgo. “We look forward to providing fast and convenient charging to drivers on Uber’s platform with the help of EVgo’s growing