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30

Mar 2015

Global Electric Car Market Reached 740,000 Units In 2014

30 March 2015 | Posted by HLindon

The global electric car market hit yet another high last year with regard to sales — with more then 320,000 new EV registrations taking place worldwide in 2014.

Thanks to that very strong growth, the total global electric car market surged to 740,000 vehicles during the year — meaning that nearly half of all electric cars registered, at any point (ever), were registered just during the last year.

Tesla Model S China

The new figures are coming to us via an analysis from the Centre for Solar Energy and Hydrogen Research — which noted that, along with surging demand for EVs, battery suppliers have experienced very strong growth, with total revenue hitting €2 billion ($2.17 billion), according the German company that did the analysis.

Most of this substantial growth was via relatively few companies — the obvious ones are Nissan, Tesla Motors, and Mitsubishi.

With regard to where in the world the growth was strongest, the answer here is also easy to guess: the US, China, and Japan all saw very good growth. The growth rate in the US was around 69% — with 54,000 new electric cars registered during the year (total electric car numbers in the US are now around 290,000 units).

China saw a growth rate of 120% — thereby beating out the US in relative terms. China is now home to more than 100,000 registered electric cars. Japan saw a growth rate of 45%, and is now home to more than 110,000 registered electric cars.

As the new analysis noted, all three countries mentioned above owe (to some degree) their strong growth rates to supportive policies. When the growth rates of these countries with supportive policies in place are compared to those of countries without supportive policies (Germany, Italy, etc.), the effect is clear — government support goes a long ways.

Overall, the global electric car market saw a growth rate of around 76%, according to the new analysis.

The head of the electrochemical energy technologies division at the firm that did the analysis, Werner Tillmetz, commented: “If the momentum of recent years continues unabated, the number of electric cars worldwide will exceed one million in just a few months."

Image Credit: Tesla Motors

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Global Electric Car Market Reached 740,000 Units In 2014

30 Mar 2015 | Posted by HLindon

The global electric car market hit yet another high last year with regard to sales — with more then 320,000 new EV registrations taking place worldwide in 2014.

Thanks to that very strong growth, the total global electric car market surged to 740,000 vehicles during the year — meaning that nearly half of all electric cars registered, at any point (ever), were registered just during the last year.

Tesla Model S China

The new figures are coming to us via an analysis from the Centre for Solar Energy and Hydrogen Research — which noted that, along with surging demand for EVs, battery suppliers have experienced very strong growth, with total revenue hitting €2 billion ($2.17 billion), according the German company that did the analysis.

Most of this substantial growth was via relatively few companies — the obvious ones are Nissan, Tesla Motors, and Mitsubishi.

With regard to where in the world the growth was strongest, the answer here is also easy to guess: the US, China, and Japan all saw very good growth. The growth rate in the US was around 69% — with 54,000 new electric cars registered during the year (total electric car numbers in the US are now around 290,000 units).

China saw a growth rate of 120% — thereby beating out the US in relative terms. China is now home to more than 100,000 registered electric cars. Japan saw a growth rate of 45%, and is now home to more than 110,000 registered electric cars.

As the new analysis noted, all three countries mentioned above owe (to some degree) their strong growth rates to supportive policies. When the growth rates of these countries with supportive policies in place are compared to those of countries without supportive policies (Germany, Italy, etc.), the effect is clear — government support goes a long ways.

Overall, the global electric car market saw a growth rate of around 76%, according to the new analysis.

The head of the electrochemical energy technologies division at the firm that did the analysis, Werner Tillmetz, commented: “If the momentum of recent years continues unabated, the number of electric cars worldwide will exceed one million in just a few months."

Image Credit: Tesla Motors

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