Boulder, Colorado – Sales of electric vehicles (EVs) will surpass 1.4 million units in Asia Pacific from 2010 to 2015, according to a new report from Pike Research. This will be partially due to various national-level initiatives and programs to promote the awareness of the vehicles, the company said.
“Two key drivers of EV adoption include climate concerns and oil prices,” said senior analyst Andy Bae. “The potential for reducing carbon emissions by electrifying transportation has caught the attention of local and national government officials across Asia Pacific due to concerns about the contribution of transportation emissions to climate change. For example, South Korea faces worsening environmental issues. In 2005, the country had the tenth-highest level of CO2 emissions, as well as the highest CO2 emissions growth rate.”
Still, Bae said that significant barriers still exist in the form of consumer concerns about effective driving ranges, as well as a near-term shortage of charging stations. The latter will be less of a problem over time as public, private, workplace and residential charge points are installed in the coming years. Bae said that by 2015, it is expected that a total of 2.6 million EV charge points will be available to drivers across the region, outnumbering the vehicles themselves.
China is expected to be the largest Asia Pacific market for the next five years, representing 53 per cent of the region’s total sales during that period. The vast majority will be battery electric, driven by a strong push behind this category by the central government. In contrast, plug-in hybrid electric vehicles will be the largest category in Japan, the country expected to be the region’s second-largest market for electric vehicles.