The Evolution of a Revolution
Production electric vehicles (EV) have been around since the early 1900s - but until very recently, they’ve never taken off in large numbers in the consumer marketplace. However, with the White House announcing a goal to have 1 million electric vehicles on the road by 2015 and more than $2 billion dollars in stimulus money to encourage development in that industry, it appears that EVs are on the verge of broad adoption.
Recent announcements from major auto manufacturers like GM, Nissan, Toyota, and Mitsubishi promising to deliver EVs to the market in 2010 and 2011 support Deutsche Bank’s prediction that EVs and hybrids will make up more than 20% of all passenger vehicle sales by 20201 . This is a bold prediction, considering that in 2009, only 1% of all passenger vehicles sales were attributed to hybrid vehicles, like the Toyota Prius, Nissan Altima hybrid, and Ford Escape hybrid2. The market for electric vehicles extends well beyond the shores of the United States. McKinsey expects the electric vehicle market to be $220 billion in China alone. Nissan LEAF (USA), BMW (Germany), Peugeot (France) and Smart (Germany) have all launched or plan to launch electric vehicles in the next few years as well3. According to Credit Suisse, the electric vehicle market is expected to be $400 billion worldwide by 20304.
The U.S. electric vehicle market is further buoyed by an infusion of infrastructure investment. Many key EV markets such as Los Angeles, Washington D.C., Tucson, and San Francisco have begun to plan for a public electric vehicle infrastructure. The charging stations that will make up the EV infrastructure will be made up of “Level 2” AC opportunity charging stations that can be used while at home, work, shopping, or dining, and others classified as “Level 3” DC fast chargers, which will be primarily used for public charging. These fast chargers can charge a battery in as little as 10 minutes, depending on conditions. Public charging will act like gas stations for electric cars, to augment the nightly charging provided by personal home charging stations.
AeroVironment has been developing, manufacturing, and supporting fast chargers for more than a decade, and is pleased to support major auto manufacturers with both Level 2 charging stations for the home and the public, as well as offer Level 3 “fast charge” public stations. Stay plugged in as AV and other clean transportation leaders join forces to roll out the EV Superhighway.
Click here, here, and here for information on global automotive EV launch announcements.
1 “Electric Cars: Plugged In 2”, Deutsche Bank, F.I.T.T Research, November 3, 2009, p. 14.
2 “Electric Vehicles: Back to the Future”, Credit Suisse Equity Research, October 1, 2009, p. 2.
3 “Global HEV and EV Database”, Frost & Sullivan.
4 “Electric Vehicles: Back to the Future”, Credit Suisse Equity Research, October 1, 2009, p. 1.
