Ford Reveals All-Electric Explorer SUV For The European Market

More

New Kia Concept EV5 previews all-electric SUV for Chinese market

More

The Volkswagen ID. 2all previews sub-25,000 euros electric car

More

The Kia EV9 all-electric SUV revealed

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Smart Mobility on the Rise: Global Electric Vehicle Revenue to Hit $58 Billion in 2021

As extreme pollution and congestion in urban areas coupled with limited transportation options continues to challenge major cities across the globe, ABI Research, the transformative technology innovation market intelligence, predicts an imminent rise in smart electric mobility.

Data analysis forecasts global electric vehicle revenue will hit $58 billion in 2021, more than five times its market value in 2015.

“The role of vehicle electrication in urban areas is part of a broader smart mobility model that includes shared vehicles, charging options, and driverless electric vehicle fleets of cars, buses, trams, and light rail,” says Susan Beardslee, Senior Analyst at ABI Research. “No singular option prevails; in fact, innovative manufacturers are creating ways for them to converge.”

Leading automotive manufacturers Ford and BMW, for instance, are looking to create electric bikes that could fit and charge inside of a car. The goal is for drivers to then be able to ditch their cars and use the bikes as a more eco-friendly mode of transportation to complete the last leg of long journeys. Similarly, Tier 1 companies, like Continental, are designing and manufacturing batteries and engines that can better accommodate small, personal electric vehicles.

China is one region pushing particularly hard to make electric vehicles a reality, with regional vendors like BYD outselling larger OEMs like Chevy, Nissan, and Tesla by miles. And as newer urban electric transportation categories continue to emerge, such as three-wheeled vehicles more commonly referred to as velomobiles, so too do opportunities for emerging markets and the elderly or disabled.

“The U.S. is taking longer to embrace the trend, though, with many residents expressing hesitation to let go of their private, singular vehicles as we move toward a shared, smart mobility transportation model,” continues Beardslee. “Once the price point of electric vehicles starts to drop, as evident with Tesla’s Model 3 and the forthcoming Chevy Bolt, and manufacturers address range anxiety, we believe that the U.S. market will see a jump in its sales. Over time, we expect greater adoption through fleet purchases including Uber and Lyft.”

Personal mobility companies VeloMetro and EcoReco, for instance, are embracing the shared fleet mentality. Both companies are rolling out innovative personal transport vehicles that they plan to pilot with universities and municipalities in the months ahead.

“While the market’s current lack of sufficient standards and infrastructure is impacting the broader adoption of electric vehicles, we believe that the greater access, variety, and flexibility of electric vehicles and increasing urban congestion will positively influence future electric vehicle deployment and adoption,” concludes Beardslee. “The long-term forecasting of global energy needs from Exxon shows the sobering impact of an unsustainable 35% to 140% increase in energy requirements. Global consortia and public and private partnerships will continue to be leading efforts resulting in necessary change to our transportation industry.”

[source: ABI Research]
May 10, 2016Blagojce Krivevski
Project FEVER to develop 48V through-the-road hybrid vehicle technologyNissan and Enel team up to transform electric vehicles into mobile energy sources
You Might Also Like
 
GM Begins Prototype Battery Cell Fabrication in China
 
GM Partners with ABB to Use Volt Batteries for Backup Power
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

May 10, 2016 Electric Car NewsABI Research, electric vehicle revenue, electric vehicles, smart mobility
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
Recent News
Hyundai Shows Newly Developed Automatic Charging Robot for Electric Vehicles
March 22, 2023
EV drivers missing out on savings worth hundreds of pounds by not switching to cheap specialist home charging tariffs, report says
March 22, 2023
Volvo Trucks and Boliden collaborate on deployment of underground electric trucks for mining
March 22, 2023
Genesis Electrified GV70 now arriving at US dealerships
March 21, 2023
Ford Reveals All-Electric Explorer SUV For The European Market
March 21, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
Hyundai Shows Newly Developed Automatic Charging Robot for Electric Vehicles
March 22, 2023
EV drivers missing out on savings worth hundreds of pounds by not switching to cheap specialist home charging tariffs, report says
March 22, 2023
Volvo Trucks and Boliden collaborate on deployment of underground electric trucks for mining
March 22, 2023
Get in touch

Email: [email protected]

Get new stories by email:
Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.