Thursday, 23 August 2012

Global EV sales to grow at 15% CAGR

Research company Global Information Inc is predicting that annual sales of electric vehicles will reach 130 million units sold annually by 2025. Trouble is, the figure includes light electric vehicles such as motorcycles and three wheelers, which are very popular in Asia.

Global Information’s report states that battery electric vehicles will grow at a compound annual growth rate of 15% between 2011-2020 provided that government subsidies continue unabated. Consumer education, infrastructure, and high prices were all flagged as potential restraints on the market.

The Union of Concerned Scientists (UCS) recently analyzed how emissions generated from charging electric vehicles compare to gasoline-powered vehicles in the United States. The conclusion: even coal-fueled electricity is a cleaner alternative. Expect electrics cars to become even cleaner over time.
“By 2025, for 70 percent of Americans, charging their electric vehicle (EV) on the regional electricity grid would result in lower global warming emissions than even today’s most efficient gasoline hybrid, the 50 miles per gallon (mpg) Prius, up from 45 percent today,”