Thursday 23 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Global Battery Electric Vehicles Market: BMW AG, Daimler AG, General Motors Co., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault SA and Tesla Motors Inc.
Other Prominent Vendors in the market are: BYD Auto, Chery Automobile, Fiat, Ford Motor, Honda, Hyundai, JAC Motors, Kandi Technologies, Kia Motors, Mahindra, Roewe, Shuanghuan Automobile and Wheego Electric Cars, Toyota, Tata, Véhicules Electriques Pininfarina Bolloré Sas and Volkswagen.
The report said: “The growing environmental concern to reduce greenhouse gas emissions, especially carbon dioxide, is one key trend being witnessed in the market. Battery electric vehicles have now become the most viable alternative to ICE-powered automobiles and a solution to the problem of emissions. Governments worldwide are playing an active role in protecting the environment and making efforts to reduce greenhouse gas emissions and offset their carbon footprint.”
According to the report, government subsidies and incentives are one of the major drivers of the market. Governments in many countries have extended benefits in the form of financial incentives to the buyers of battery electric vehicles. The amount of these incentives usually depends on the size of the battery.
Further, the report states that the range and performance of battery electric vehicles are the major challenges faced by the market. Battery electric vehicles are typically less powerful and have limited range (60-100 miles per charge) compared to conventional ICE-powered vehicles and, hence, are considered suitable only for short distance travel.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.