According to a report released by Boulder, Colorado-based Pike Research (News - Alert) on June 16, the total number of neighborhood electric vehicles (NEVs) on the world’s roadways will grow from 479,000 in 2011 to 695,000 by 2017, a 45 percent increase and during that period, North America will (coincidentally) account for 45 percent of annual sales.
Originally conceived as a way to fulfill the California Air Resources Board’s zero emissions requirements in the late 1990s, neighborhood electric vehicles are street-legal EVs with a top speed of 25 miles per hour. Readers may have become familiar with them in the past few years, either as light-weight fleet vehicles or as “commuter cars” that are left at the railway station in the morning and driven home at night. .
“Neighborhood electric vehicles are proof that EVs will take many forms in different parts of the world,” said Pike Senior Analyst Dave Hurst. “And while moderate in terms of sales volumes, compared to other emerging vehicle markets, the growth rate for NEVs will double that of the total light-duty vehicle market during the same period.”
Hurst adds that NEVs remain competitive and relevant in today’s market by using lead acid battery technology, enabling them to compete at less than half the cost of light-duty electric vehicles. At $100 to $200 per kilowatt hour (kWh), these lead acid batteries are the most inexpensive batteries available. Batteries used in NEVs include flooded, gelled, and absorbed glass mat (AGM) lead acid batteries.
Pike Research’s report, Neighborhood Electric Vehicles, provides a comprehensive examination of the market forces, technology issues, government incentives and regulations, and key drivers of the growth of neighborhood electric vehicles. The report includes sales, revenue, and battery forecasts through 2017, as well as profiles of key industry players.
An Executive Summary of the report is available for free download on the firm’s website.
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Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.Edited by
Jamie Epstein
