Growth in the global EV industry expected to increase through 2014
The global electric vehicle (EV) industry is expected to expand significantly in 2014 as luxury automakers all introduce their first EVs and more affordable EV options are introduced by others
According to a new white paper from Navigant Research, the selection of models available to EV buyers will increase as Audi, BMW, Cadillac, Mercedes, Saab, and Volvo introduce their first EVs while more affordable models are manufactured by Kia, Mahindra, Skoda, and Volkswagen. Automakers will also move into multiple adjacent markets including EVs’ inherent connectivity to offer information and entertainment options and operating their own car-sharing services.
The white paper identifies ten significant trends that will shape the EV market during the course of the year and beyond.
“Since electric vehicles require less maintenance and replacement of parts, which currently provide considerable revenue to dealers and automakers, car companies are looking to diversify their revenue streams” said John Gartner, research director with Navigant Research. “One of the most promising avenues is partnering with utilities and energy aggregators to incorporate electric vehicles into demand response and other ancillary services.”
2014 will be a watershed year for electric vehicles, according to the report, as the market reaches several milestones, including the elimination of more than 1 million tons of carbon dioxide emissions and the shipping of more than 2.2 million electric drive motors. Other key trends identified by the report include an acceleration of automakers push for changes in California’s zero-emissions vehicle mandate, the appearance of electric motorcycles in the market, wireless charging in the street and the expansion of vehicle-to-grid pilot projects.
The conclusions reached by the report have been drawn from Navigant Research’s ongoing Smart Transportation program research coverage with forecasts included for key market sectors.
A full free copy of the report is available on Navigant’s website.
Source: Renewable Energy Magazine