Wondering what the year ahead holds for electric cars? New research has pinpointed just how much the market is likely to grow in the year ahead.
According to Navigant Research's white paper "Electric Vehicles: 10 predictions for 2014", the market will grow by 86 per cent during the year: with around 346,000 electric cars to be sold. That will bring the total number on the road to more than 700,000 by the end of the year.
Expansion has been predicted largely because of growth in the high end of the market: with the likes of Audi, Volvo, Saab, Mercedes, Cadillac and BMW all introducing their first plug-in cars. Meanwhile, there will be mainstream models arriving from the likes of Volkswagen, Skoda, Kia and Mahindra.
So what else has been predicted?
- Push for changes to California ZEV mandates: Navigant predicts that mandated sales in California are not likely to be met and that by 2022 not even California will meet the 10 per cent zero emission vehicle requirement. It is expected then that automakers will push for changes and that legal action may be included.
- Tesla to have difficult year: Though 2013 was highly successful for Tesla, Navigant expects the company to face new challenges including scaling up production with any perceived reduction in quality to be under the spotlight.
- Electric motorcycles breakout: Sales of e-motorcycles will enjoy a breakout year after only 30,000 were sold outside China in 2013. This will be due to new entrants in the market, particularly in North America and Europe.
- PEV makers to pursue other revenue: With electric cars typically needing less maintenance and replacement parts, car companies will look to diversify revenue streams to make more money. This will include information and entertainment.
- Fuel cells V battery cars: With Toyota, Honda and Hyundai all bringing fuel cell cars in the 2014-15 timeframe there will be another round of "fuel cell V battery cars" hype.
Other predictions include that electric vehicles will play a leading role in a surge of car sharing; wireless charging products will start to be shipped in small quantities; electric vehicles will reduce carbon dioxide emissions in the USA by more than one million tons; more than 2.2million electric drive motors will ship in 2014; and vehicle-to-grid projects will begin regenerating in the USA.
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