The Global Market for Electric Vehicles

Baumgartner, William; Gross, Andrew
October 2000
Business Economics;Oct2000, Vol. 35 Issue 4, p51
Academic Journal
Worldwide sales of electric vehicles are slated to increase at the rate of sixty percent per annum in the coming years. We project global sales of more than one million such vehicles valued at $24 billion in the year 2007. The number of such vehicles on the roads of six continents that year should reach the four million mark. Most of the units will be cars and light trucks, though a growing number of buses and sanitation trucks will be evident as well. Despite rapid growth, electric vehicles as a whole will constitute only 1.5 percent of global motor vehicle production in 2007 and only 0.5 percent of the worldwide number of motor vehicles on the road in that year. Clearly, we are looking at a narrow, albeit fast-growing market.


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