Group Forecasts 130 Million Electric Vehicles By 2025
The decline of the internal combustion engine will be gradual as cleaner alternatives take hold. A market research company is predicting that annual sales of electric vehicles will reach 130 million units sold annually by 2025, which while encouraging, falls far short of today’s automobile sales.
Global Information Inc. yesterday announced a report that forecasts the electric vehicle market’s outlook over the next ten years. It credits government support for making EVs more affordable and advancing the perception that they are now a viable alternative to gasoline powered vehicles.
130 million units sold might sound impressive, but is comparatively weak next to sales of gasoline-powered vehicles. Over a million new car sales are projected in the United States this year alone. Note that the report’s EV tally includes light electric vehicles such as motorcycles and three wheelers, which are very popular in Asia. The outlook for cars is less clear.
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