Photo: theglobeandmail.com/
The market for EVs, hybrids and all other forms of low emission, alternative means of propulsion are slowly gaining ground, with hybrids currently being the most common amongst them. According to a study by Markets&Markets, the value of the entire global low emission vehicle market was around €16.8- ($21.13-) billion in 2011, with 826,800 units sold last year, and it’s expected to grow to €21.82- ($27.45-) billion by the end of this year.
If the current growth trends hold up, the market is expected to reach a huge value, 5 years from now, with 3.532-million ‘ECO’ vehicle sales, and an estimated €82.02- ($103.13-) billion. With so many manufacturers adopting the trend, this prediction is definitely accurate, and we think it could even be surpassed if battery technology doesn’t take 10 years to advance, as previously reported, and a breakthrough new battery system will be developed sooner, making EVs cheaper, quicker and increasing their range considerably, while also reducing manufacturing costs and complexity.
We are all in favor of the preservation of the planet by any means, and if we have to give up our internal combustion, we will do so in favor of our future survival as a species. However, we just hope that batteries don’t become the new oil, and enslave us like it has done for the past century.
Story via autos.ca
We are all in favor of the preservation of the planet by any means, and if we have to give up our internal combustion, we will do so in favor of our future survival as a species. However, we just hope that batteries don’t become the new oil, and enslave us like it has done for the past century.
Story via autos.ca
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