PLUG-IN VEHICLES SO FAR AND FARTHER ON

Global Electric Vehicle Adoption Trends

April 30, 2014 (Smart Grid Insights)

“…[E]lectric vehicles (EVs) represent one of the most promising technologies for reducing oil use and cutting emissions…[but] this market is still in the nascent stage and faces many challenges, particularly with technology integration, optimization and scalability…Zpryme’s Global Electric Vehicle Adoption Trends report [found the] worldwide electric vehicle market is forecasted to grow from just over 700,000 vehicles in 2014 to more than 12 million vehicles in 2021. That means an average annual grow rate of 66%...The main challenges to a double-digit percentage penetration of EVs in the automobile market include government policies, EV purchase cost and total cost of ownership, range anxiety, and range limitations…[Policies should] include enabling EV companies to sell directly to consumers, and further catalyzing and facilitating private-public coordination and communication to address the EV challenges…[Manufacturers should develop] the EV financing market which includes the battery and resale markets, and [identify] sustainable EV charging infrastructure business models…” click here for more

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