Study: EV Market Will Be Small Unless Oil Prices Skyrocket

October 19, 2009

A few weeks ago we told you about a new study stating that automakers without compelling EVs were signing a death warrant.

Now, another study takes the opposite position. Lux Research Inc.’s new report, “Unplugging The Hype Around Electric Vehicles,” predicts that hybrids are positioned for success, but plug-in hybrids (PHEVs) and pure electric vehicles (EVs) may be in for a rougher ride.

“The markets for PHEVs and EVs…will remain small unless oil prices skyrocket,” the report says. It goes on to predict that even at oil prices $200 per barrel, only about 4% of the vehicles sold worldwide will be PHEVs or EVs.

The report also concludes that government subsidies will figure prominently in the adoption of PHEVs and EVs and lithium-ion battery technology will be a clear winner, no matter the oil scenario.

Posted by Captain Hybrid on October 19, 2009 | Comments (0)

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