Are Electric Cars Ready for Mass Market?
|Source: Citroen Ami One Electric Car|
New Market Conditions Could Favor China
According to Germany's Center of Automotive Management, global electric car sales hit 2.1 million in 2018 and are forecast to rise to 2.8 million in 2019. China is the biggest market with more than 1 million sold, Europe is second with 389,000 and the US third with 359,000 vehicles sold last year. The market is expected to ramp up and start accelerating as the European Union's tough emissions standards start rolling out in 2021.
Geneva Auto Show Electric Vehicle Debuts
There are a number of mass market electric cars debuting in Geneva. They are more affordably priced and have good driving range. Some examples:
- Kia e Soul
- Honda Urban
- Citroen Ami One, a tiny, 2 seat, city car that doesn't require a license
- Renault Zoe
- Nissan Leaf
- Peugeot Citycar 208
- Volvo Polstar 2, a compact with 275 mile range
As demand for vehicles with zero emissions rises, China is expected to capitalize on the situation. They specialize in affordable electric cars with 60 to 75 miles range. That is expected to be the sweet spot in global mass markets for electric cars. Experts say for the electric car industry to really take off, three factors are needed: affordable pricing, decent driving range and sufficient infrastructure for drivers to charge their vehicles.