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The Low Carbon Economy Ltd

07 Jan 2011 10:01:08

UK 'will not see affordable electric vehicles until 2015'

UK 'will not see affordable electric vehicles until 2015'
Affordable, mass-market electric cars are unlikely to be available until 2015, according to a new report by KPMG.

In a survey of more than 200 automakers, over half said the cost of electric vehicles will not be on par with traditional cars without government subsidies until that date.

This is despite the recent release of the UK government's Plug-In Car grant, which offers up to £5,000 off the cost of an ultra low carbon car and is intended to reduce the price differential between these models and conventional vehicles.

Some 93 percent of those questioned said investing in hybrid and electric technologies was a key priority for the industry, with many predicting China will lead the way in both vehicle development and sales.

Mike Steventon, automotive partner at KPMG in the UK, said: "From a market perspective, the rise of economies such as China and India is creating a new competitive world order. In many ways there is a two-tier global market in play."

KPMG found 80 percent of respondents believe electric vehicles will experience the "lion's share" of any growth in the industry over the next five years. ADNFCR-1235-ID-800328662-ADNFCR

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