Electric Vehicles Lead the Charge to a New Auto Industry, According to NextGen Research
 Thomas Edison (left) is pictured here with Mr. Bailey (right) in a Bailey Electric Car equipped with an Edison battery about 1912. While Edison made great strides in his effort to produce a battery for electric vehicles, he did not succeed at developing a battery that supplied sufficient power and range to enable electric cars to out-compete gasoline-powered ones. |
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OYSTER BAY, N.Y. March 3, 2009; What better way is there for the auto industry to recapture the hearts and minds (and wallets) of disenfranchised consumers than to introduce non-polluting electric cars that never need a drop of oil?
The auto industry is in dire straits, particular in the US, where money is tight, huge debts still need to be serviced, and auto sales continue to slide. Chrysler and General Motors, which received nearly $18 billion from the Bush administration in 2008 and are asking for another $21 billion from the Obama administration, have had to pledge to make greener cars. One route they, and automakers worldwide, are pursuing is the development of new electric cars.
Electric vehicles have been around since the 19th Century, but the advent of the electric starter in the early 20th Century made internal combustion engines more convenient and safer. Electric vehicles were sidelined for many years, until increasingly stringent fuel-economy and emission-restricting regulations pushed automakers to reconsider the simplicity of a battery-powered drivetrain. Today, electric vehicles range from simple Neighborhood Electric Vehicles to cars that look quite similar to standard models, and even electric delivery vans, trucks and buses.
Despite electric cars’ lengthy history, the market for them remains in its infancy. NextGen Research, in the report “The Market for Electric Vehicles: An Assessment of Plug-in Vehicles, Fuel Cell and Battery Technologies” observes that fewer than 10,000 electric vehicles of all types were sold worldwide in 2008. In comparison, in January 2009, a “slow month,” more than 300,000 cars were sold in the US alone. NextGen Research foresees the global market for electric vehicles growing to a hefty 350,000 units by 2013.
Says Larry Fisher, research director of NextGen Research, “A number of developments are coming together to propel the market for electric vehicles. The fuel price spike in late 2007-early 2008 pushed automakers to intensify their R&D outside of standard internal combustion engines. Ongoing battery development also has contributed, as new chemistries promise higher range per charge, which has been a major factor limiting electric cars. Finally, automakers finally are working with governments and utilities to plan out a charging infrastructure for electric vehicles, which further extends the viable range of electric vehicles.”
NextGen Research is the emerging technology arm of ABI Research (www.ABIResearch.com). NextGen Research informs clients of the outlook for applications currently in use and the opportunities presented by new technologies, so they can make sound business decisions. For more information, please visit www.NextGenResearch.com, or call +1.516.624.2526.
