Electric Vehicle Manufacturers Will Pursue New Revenue Streams beyond Vehicle Sales in 2014, According to Navigant Research
The global electric vehicle (EV) industry is expected to expand significantly in 2014. The selection of models will increase, as luxury automakers Audi, BMW, Cadillac, Mercedes, Saab, and Volvo will all introduce their first EVs and more affordable EV options are introduced by Kia, Mahindra, Skoda, and Volkswagen. Click to tweet: According to a new white paper from Navigant Research, the coming year will see automakers move into multiple adjacent markets, including tapping into plug-in EVs' inherent connectivity to offer information and entertainment options and operating their own carsharing services.
The white paper, which identifies 10 significant trends that will shape the EV market in 2014 and beyond, is available for free download on Navigant Research's website.
'Since electric vehicles require less maintenance and replacement of parts, which currently provide considerable revenue to dealers and automakers, car companies are looking to diversify their revenue streams,' says John Gartner, research director with Navigant Research. 'One of the most promising avenues is partnering with utilities and energy aggregators to incorporate electric vehicles into demand response and other ancillary services.'
This will be a watershed year for electric vehicles, according to the report, as the market reaches several milestones, including the elimination of more than 1 million tons of carbon dioxide emissions and the shipping of more than 2.2 million electric drive motors. Other key trends examined in the white paper include:
- Automakers will accelerate their push for changes to California's zero-emissions vehicle mandate
- Electric motorcycles will break out as a transportation alternative
- Fuel cell vehicle launches will spur a new round of the 'fuel cell versus battery electric' vehicle debate
- EVs will play a leading role in the growth of the carshare market
- Wireless charging will move from the lab to the street
- Vehicle-to-grid pilot projects will expand, and begin generating revenue, in the United States
The white paper, 'Electric Vehicles: 10 Predictions for 2014,' analyzes 10 key trends that will influence the development of the EV market in 2014 and beyond. Conclusions and predictions in this paper are drawn from Navigant Research's ongoing Smart Transportation program research coverage, with forecasts included for key market sectors. A full copy of the white paper is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, 'Electric Vehicles: 10 Predictions for 2014,' is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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