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Europe: Electric Vehicle Sales To Reach €1.7 Billion By 2017

5
June
2012
  Posted at 06:00:00 PM
  File under  Electrical Statistics
  Author: Mike Werner
  Location: Normandy, France
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According to the market research company Frost & Sullivan Open Frost & Sullivan link in a new window, the sales of Electric Vehicles (EV - Cars and Motorcycles) in Europe will reach €1.7 Billion by the year 2017. 2010 saw a sales of €55 million in Europe, but the company sees an expansion of 50% each year.

The largest hold-back is the battery technology used today, with the cost of the battery materials rising. New battery technology could accelerate the sales of EVs, plus additional government subsidies for the purchase of electric cars and motorcycles.

30 to 40% of manufacturers who subcontract the development and manufacturing of the electric engines will be insourcing this over the next few years.

Via: AVEM



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