Worldwide sales of electric vehicles could hit 30M by 2050

UK-based Trend Tracker Ltd. (TT) conducted a study of the potential global market for electric cars and concluded that cumulative sales of lithium ion batteries-powered vehicles (electric vehicles like the Nissan Leaf and Mitsubishi i-MiEV) could feasibly hit 30 million units – approximately 1.5 percent of the projected worldwide automotive market – by 2050.

Trend Tracker’s report – "Electric Vehicles: Energy, infrastructure and the mobility market in the real world" – notes that lead-in times for advanced powertrain technologies is at least 20 years, supported by the relatively slow adoption of hybrid vehicles.

However, TT’s study claims that electrifying the automotive industry may be hastened by dwindling oil reserves, rising gas prices and extensive government incentives. Unfortunately, even if 30 million battery-powered autos take to the roads by 2050, the vast majority of vehicles will still rely upon fossil fuels for motivation.

TT’s extensive 242-page report (PDF) evaluates key aspects of the lithium ion batteries-powered electric car industry, including; lithium ion batteries technology, charging infrastructure, government policies, strategic issues for electric mobility providers and profiles of electric vehicle and battery manufacturers.