According to a new study by Pike Research, global sales of plug-in cars will total 3.2 million in the next five years, with a 106 percent compound annual growth rate over that period. Pike also says that combined annual BEV and PHEV sales will top 1 million vehicles per year for the first time in 2015.
By then, the study says that China will have taken the lead in electric vehicle adoption, making up 27 percent of the global market in 2015, with the United States following close behind with 26 percent of worldwide sales. Pike believes that the key will be government incentives that will drive down the costs of early electrics, bringing them within reach for more people. Though both countries' governments have been extremely supportive of plug-ins so far, China's financial commitment to the technology in the next five years is expected to greatly surpass that of the United States.
For more details, download the full executive summary: (PDF)
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