×
Carmakers promise an ‘Electrified Future’ but Alternatively-fuelled vehicles are still a niche
Alternatively-Powered vehicles (APV) reached 10% share of Western Europe’s powertrain mix in the first 9 months of 2019. Between Q1 to Q3 2019, total APV sales grew by 25% year-on-year to 1.25 million according to ACEA, with Electrically Chargeable Vehicle sales (BEV+PHEVs) accounting for one-third of these sales, up 38.2% y-y.
Despite the increase in sales, alternative powertrain have failed to capitalize on diesel’s share drop in Europe over the last 4 years (Diesel sales CAGR 2014-18: -18.3%) owning to high price premium comparing to Internal Combustion Engine equivalents and absence of sufficient charging infrastructure.
Even in the world’s largest Electric Vehicle market, China, EV penetration is still at nascent stages with 3.8% penetration in Q1-Q3’19. Aggregate New Energy Vehicle sales (BEV and PHEV) in the first 9 months of 2019 grew by 20.8% comparing to the same period in the year before, according to CAAM. But subsidy policy shift from BEVs to Hydrogen fuel cell raises concerns for growth of the world’s largest EV market.
Aggressive electrification targets from carmakers need technology innovation to materialize and reap rewards
Between 2019 and 2025, the European market will experience significant increase in EV model supply, driven primarily by compliance requirements with stricter CO2 emissions. We expect model availability of BEVs to grow with CAGR 30% between 2018 and 2025 as leading Premium and mass market carmakers announce aggressive targets for their electrified sales by 2025.
A recent example is VW which recently started production of their BEV ID. 3, which “makes clean, individual mobility accessible to millions of people” according to VW’s boss. It will be followed by almost 70 more models across the group in the next 10 years as an attempt to put the ‘’dieselgate’’ behind.
But the EV product offensive scheduled over the next 7 years needs technology innovation to reduce purchase prices or provide better range and faster charging which are critical for mass-market adoption.
In this webinar we will explore recent innovation in technology and research for the evolution powertrains to support the new era of mobility. Join our webinar to get answers in critical technical challenges for future powertrain technologies.
Argonne National Laboratory develops new electrolyte that stops rapid performance decline of next-generation lithium battery. Solid-state batteries inch their way towards commercialization in Q3’19.
Researchers are working on cost-efficient hydrogen production to provide non-battery alternative fuel choice. Research work to cut down platinum costs gains momentum. Players are promoting biofuels through new inventions and collaborations.
Register for our webinar:
- To understand the emerging trends in powertrain technology over the next decade to keep the ICE relevant and democratize electrification
- To explore recent advancements and the outlook from engine charging and boosting, to energy recovery, transmissions and emission after-treatment solutions for regulatory compliance
- To learn about the state of the art and commercialization roadmaps of breakthrough battery technologies for sustainable propulsion
- Finally, we’ll unveil promising academic research from leading hubs of innovation in electrified mobility
Need a thought partner?
Share your focus area or question to engage with our Analysts through the Business Objectives service.
Submit My Business ObjectiveOur Clients
Our long-standing clients include some of the worlds leading brands and forward-thinking corporations.
- © 2021 Cheers Interactive (India) Private Limited. All rights reserved. FutureBridge ® is a registered trademark of Cheers Interactive (India) Private Limited.
