Rumors: Industry Report—Electric Vehicles Heading For A Plateau

The automotive market is continually changing, and perhaps nowhere is this more apparent than in electric propulsion and hybrid systems. And, the pace of change is only increasing—more and more manufacturers are creating hybrid variants of their cars or going all out and introducing completely new EVs like the Nissan Leaf. However, the annual Global Automotive Executive Survey put out by KPMG, a global audit and tax advisory firm, reports that the number of new electric vehicles merging onto the road is going to level off for the next decade or so.

 

The survey found that global new car registrations of electric cars won’t break through 15 percent until 2025, a somewhat counterintuitive finding given all the momentum electric cars have been seeing lately. One reason for this is the continual refinement of the internal combustion engine and the creative ways manufacturers are finding to improve them.

 

While the number of electric cars may hit a plateau, the push for "electromobility" remains a major long-term strategy according, to KPMG’s survey. As new technology is developed and batteries, electric motors and other electronic systems reach higher levels of performance, more electric vehicles will find their way into our driveways, but it’ll be a change that’s going to take some time.