EV MRKT TO MORE THAN DOUBLE BY 2023

Electric Vehicle Market Forecasts; Global Forecasts for Light Duty Hybrid, Plug-In Hybrid, and Battery Electric Vehicle Sales and Vehicles in Use: 2014-2023

4Q 2014 (Navigant Research)

“The rapidly changing market for electric vehicles (EVs), which includes hybrid, plug-in hybrid, and battery electric vehicles (HEVs, PHEVs, and BEVs), is a small but important part of the global automotive industry. Governments worldwide…have both pushed automakers to develop EVs and incentivized citizens to buy them…[T]he market for vehicles that reduce fuel consumption is becoming more competitive due to…fuel efficiency advances made to conventional internal combustion engines (ICEs)…Growth in HEV, PHEV, and BEV platforms will be contingent upon expanding EV availability outside of the small hatchback segment into larger vehicle formats such as SUVs and trucks. According to Navigant Research, the global light duty EV market is expected to grow from 2.7 million vehicle sales in 2014 to 6.4 million in 2023 under a base scenario…” click here for more

click to enlarge

Tweet