5M EVs, PHEVs on the Road by 2035: Edison Foundation
Few have been optimistic about the market for plug-in hybrids and electric vehicles, but Edison Foundation believes there will be at least 5 million of them on the road by 2035.
Optimistic? It may seem so, considering there’s only about 90,000 on the road today in the US. Nevertheless, the Edison Foundation believes that’s even a conservative estimate and believes that figure could jump as high as 30 million if there’s further advancement in battery technology.
The foundation suggested as a mid-range scenario that there would be around 25 million plug-based vehicles on the road by 2035, making up 10 percent of the American passenger vehicle fleet. Most skeptics would believe that these estimates are way too aggressive, as even some automakers are realizing that EVs and PHEVs aren’t catching on as quickly as they had hoped.
Things are looking bright for the market however, as sales have increased in recent months for vehicles such as the Nissan Leaf and the Chevrolet Volt. Of course, as with anything technology related, it’s hard to tell what the future may bring. A few years from now, batteries for EVs and PHEVs could be lower priced, have extended range, and quicker to charge.
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“Opportunities for electrification in the transportation sector are large and advanced batteries are a major driver,” said Lisa Wood, the Edison Foundation’s Executive Director. “Electric transportation makes economic and environmental sense. Approximately 90,000 Americans have said goodbye to the pump and hello to the plug due to battery advancements and a growing selection of car models that has made driving an EV more accessible than ever before. This number will only grow.”
[Source: The Detroit Bureau]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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When every gas station has a charging station, then EVs will make sense. The cost must come down below $20k. Then, and only then, will the EV become accessible to those that would truly benefit: the lower middle class and poor. This class usually has to commute more miles for those low paying jobs and removing a gas bill would be a huge boon to their personal economies. Until then, these are rich people toys.