Pike forecasts NEV market to remain small, although with double the growth rate of light-duty vehicles to 2017
Green Car Congress
JUNE 16, 2011
While moderate in terms of volume, the growth rate for NEVs will double that of the light-duty vehicle market during the same period, Pike notes. In Europe, NEVs are categorized as a quadricycle, but are limited to a 4 kW motor for light NEVs or 15 kW for heavier quadricycles. Pike notes that essentially all NEVs use deep cycle lead-acid batteries due to their lower cost of between $100 to $200 per kWh. Annual worldwide NEV sales by region, 2011–2017.