The worldwide market for electric vehicles (EVs) is performing very well, with manufacturers turning their attention to improving the range of their cars, as well as looking at inductive charging and recharging.
Research published by Frost & Sullivan revealed that 25 new EVs are set to be launched in 2017, with a number of factors contributing to the growth in the EV market.
The availability of subsidies and incentives, lower battery prices and new entrants in the sector are among the things driving the market forwards.
There is also a shift towards the use of battery EVs rather than plug-in hybrid models, the firm noted.
This could see more companies utilising lithium titanate batteries, given their lighter weight and faster charging times than other comparable batteries currently in use in EVs.
Mobility industry manager at the organisation Prajyot Sathe said this is as a result of more governments, particularly in Europe, backing “emission-free mobility”.
“Germany, Ireland, Norway, Sweden and the United Kingdom will have the highest impact on EV prices due to availability of cash incentives,” he stated.
These predictions come after the UK’s Department for Business, Energy and Industrial Strategy (BEIS) launched an enquiry into why take up of EVs has not been as strong as predicted.
The select committee established by the BEIS was due to examine a range of areas, including identifying the main barriers to EV take-up in the UK, as well as making recommendations of incentives that could get more people to opt for this kind of car.
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