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Sep 8, 2013

ELECTRIC VEHICLES * Europe

* UK - Electric vehicle sales increase by 50% in 2013 as costs fall

London,EN,UK-Fleet Europe, by Jonathan Green -30 Aug 2013: -- New research has predicted that a reduction in the upfront ownership costs of electric vehicles will be one of the key drivers of global electric vehicle sales. The report, by Frost and Sullivan, has found that the prices of some electric vehicles has fallen by as much as 18 per cent of their 2012 price, as manufacturers look to boost sales and stay competitive... The report, Strategic Outlook of the Global Electric Vehicle Market in 2013, predicts that EV sales will increase by 50% this year on 2012 figures, with sales around the 170 – 190,000 mark. By 2018 sales of EV units will reach 2.7 million units in 2018... To date electric vehicles have been concentrated in corporate fleets, but with prices falling OEM’s are looking to expand their reach and tap into the private consumer market... The cost of lithium-ion batteries has decreased by 20 to 40 per cent in the last five years, enabling vehicle manufacturers to lower the price of electric vehicles and fuel adoption, and with consumer fears over range anxiety being addressed with robust charging infrastructure network, the barriers to entry for EVs are gradually eroding... More than ten automakers have launched trials for inductive charging, and standardisation for the same is likely to be announced in 2014... In addition, governments in various countries have extended incentives and benefits for electric vehicle consumers to 2015 and beyond. Scandinavia has led the way, with Norway gradually increasing its penetration rate of electric vehicles beyond three per cent in 2013...

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