Plug-In Electric Vehicles Sold Twice As Much as Hybrids in First Years

Author:Pure Green Cars     Source:Pure Green Cars     Click:405     Publish time:2013/7/29 16:38:25

Plug-in electric vehicles should have a total cost of ownership that is competitive with internal combustion engines in 2017, assuming five years of ownership and about 14,000 miles driven each year.

This was a key finding of a new Electrification Coalition report (pdf) released in consultation with PricewaterhouseCoopers.

The study, “State of the Plug-in Electric Vehicle Market,” also finds that certain plug-in electric vehicles models are already capturing a high percentage of market share in their respective classes, including the Tesla Model S, which has registered an 8.4% stake in the luxury market in the first six months of 2013.

Additionally, the paper highlights consumer satisfaction surveys indicating that plug-in electric vehicles are outperforming their marketplace competitors on almost all counts, and expects that battery prices will fall about 50 percent to an industry average of $300-325 per kilowatt hour by 2020.

“The research shows that consumers love their electric vehicles and that EVs are well on their way to establishing a meaningful position in the overall automobile market,” said Robbie Diamond, President and CEO of the Electrification Coalition.  “Electric vehicles are the key to reducing America’s dangerous dependence on oil, and their strong early sales and earned consumer satisfaction bode well for improving our nation’s energy security in the years ahead.  However, we continue to believe that public policy, including greater funding for research and development, should play a stronger role in supporting this vital technology.”

Keywords:Plug-In Electric Vehicles Sold Twice As Much as Hybrids in First Years
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