The B2B platform for full-electric and plug-in hybrid electric vehicles: Industry News

According to recent market research by McKinsey, EVs – comprising both full electric cars and plug-in hybrids – could account for 16% of new cars sales in New York by 2015. Translated into concrete numbers, this would amount to 70,000 EVs on the streets.

While critics of electric vehicles do not see a sustainable market entry of EVs before costs come down and consumers come around, there are many developments which prepare the way for mass marketed EVs and general acceptance by the public.

In the run-up to the climate negotiations in Copenhagen in December 2009, most governments made pledges to reduce CO₂ emissions and although negotiations did not deliver concrete results, national governments are likely to keep those pledges to at least some extend. In this vein, subsidies and tax incentives for EVs as well as penalisations of high CO₂ emissions are increasing. High fuel prices and accrued environmental consciousness of consumers will also have their share in accelerating the uptake of EVs. So will the wish to reduce dependency on foreign oil reserves and increasing attractiveness of EV and battery companies for investors.

The status so far

The market research by McKinsey carried out during 12 months among a sample of around 2,000 consumers, stated that current EV owners are quite satisfied with the existent infrastructure, charging their EV over night at home and recharging it during working hours in the garage of their company building. This means that area-wide charging infrastructure is not a condition sine-qua-non in a first time but will certainly be needed in the long-run.

The city of New York is currently looking for partnerships with neighbouring cities and vehicle stakeholders in order to set up and realise an EV joint initiative. Companies like the California-based Coulomb Technologies which are actively expanding their network of ChargePoint charging stations might be prospective partners in this initiative.

McKinsey not only estimates EVs to account for 16% of new cars sales in New York by 2015 but also to make up 9% in Paris and 5% in Shanghai by the same year.

Indeed, CO₂ emissions are highest in megacities while EVs are especially efficient in city traffic – a perfect match it would appear.