With the global electric vehicle (EV) industry poised to grow by 86% in 2014, exceeding 346,000 new vehicles sold, Navigant Research has 10 significant trends that will shape the EV market in 2014 and beyond.
The research firm says that this year will see automakers introduce several dozen new plug-in electric vehicle models – from small city cars to higher-priced luxury vehicles – while the continued penetration of electric vehicles (EVs) will affect the power grid and revenue streams for automakers, resulting in the emergence of new business models and first-time relationships between new partners.
The paper covers issues including:
- Likelihood of automakers meeting ZEV mandates in US states
- What’s in store for Tesla in 2014
- The growth in electric motorbikes
- Diversification of automaker revenue streams to include EV-related services
- Developments in fuel cell vehicles
- The role of EVs in car sharing schemes
- Development of commercial wireless EV charging
- The environmental benefits of EVs
- Technical developments in EV motors
- Participation of vehicles in grid services
‘Since electric vehicles require less maintenance and replacement of parts, which currently provide considerable revenue to dealers and automakers, car companies are looking to diversify their revenue streams,’ said John Gartner, research director with Navigant Research. ‘One of the most promising avenues is partnering with utilities and energy aggregators to incorporate electric vehicles into demand response and other ancillary services.’
The white paper makes interesting reading and is available for free download on Navigant Research’s website.