Electric Vehicle Market Gets Energized, Range Matters

Despite recent low prices at the pump, a new study forecasts that nearly 17 million hybrid and electric vehicles will be on the road by 2020, up from an estimated 12 million last year.

The group noted that “stakeholders primarily need to establish the viability and desirability of electric vehicles with consumers, and adopt an aggressive ‘go to market’ strategy that includes:

•  The rolling out of a wide-scale public charging infrastructure – that is seen as both ongoing and committed.
• Improving vehicle battery life and range per charge.
• Conducting effective consumer education campaigns, with attractive incentives to change.

The new research, ‘Hybrid and Electric Vehicles: Consumer and Commercial Markets’, found that electric car manufacturers are prioritizing ‘range’ as the key issue.

According to the authors, Juniper Research, “OEMs, such as Tesla and Chevrolet understand that ‘range anxiety’ is the greatest hindrance to the adoption of electric vehicles. In order to meet the expectations of the combustion engine vehicle market, Tesla and Chevrolet have focused their efforts towards ensuring that their models’ mileage range can exceed 200 miles on a fully charged vehicle.”

Category: General Update, Green