Electric Vehicle Production to Skyrocket This Year

Driven by stricter European emission standards, worldwide production of electric vehicles is forecast to rise by 67 percent this year, according to IHS Automotive, a business information analyst.

Total production of pure electric models and plug-in hybrid electric vehicles is projected to increase to more than 403,000 this year, up from more than 242,000 in 2013.

The growth predicted for 2014 follows the 44 percent increase in 2013, based on data from the IHS Automotive Hybrid-EV Portal.

The IHS report points out that the huge increase in EV production this year contrasts with the 3.6 percent rise in global manufacturing of all motor vehicles expected in 2014.