Electric vehicle (EV) production is going to increase rather significantly in 2014, according to IHS Automotive.
It will achieve a 67% increase.
That’s for both full EVs as well as plug-in hybrids (PHEVs).
It will reach 403,381 units according to IHS Automotive.
Oh, one more thing about that number:
It is for global production. That’s 403,381 units for the whole world.
Toyota sold more Camrys in the U.S. alone in 2013 (408,484).
This is the walk in terms of global EV build, according to IHS Automotive: 2010, 13,866; 2011, 99,226; 2012, 168,608; 2013, 242,075; 2014, 403,381
According to IHS Automotive, the Europe, Middle East and Africa (EMEA) region will have the biggest rate of increase, 40%, with the Americas and Asia-Pacific coming in at 30% each. Which is somewhat odd when you think about it, as the Japanese, Korean, and American companies have been leading in EV tech for the past few years.
Speaking to the first E of EMEA, Ben Scott, an IHS Automotive analyst, said, “European emissions standards are tightening in the second half of this year with the implementation of the European Commission’s Euro 6 legislation. At the same time, European automakers are introducing compel new EV models, such as the BMW i3. These factors will boost EV demand and manufacturing in Europe in 2014.”
Other Euro EVs include the VW e-Up!, the Mercedes B-Class Electric, and Audi A3 e-tron PHEV.
While range anxiety is certainly a factor when it comes to EVs, Scott said that lithium-ion battery prices are going down, which allows OEMs to install bigger batteries, which means longer range.
And speaking of prices, IHS Automotive posits that given comparatively high prices for EVs compared to more conventionally powered vehicle, governments can help boost EV sales through legislation and incentives.
While the 67% increase is impressive—especially in light of the fact that IHS Automotive expects global automotive to rise in total just 3.6%--there is still a long way to go before EVs are more than a fraction of the market.