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. This represents a compound annual growth rate (CAGR) of 6.6%
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