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Obama might miss 2015 EV target, but sales will grow – report

While United States President Barack Obama's target of 1 million electric vehicles by 2015 could fall short, a Pike Research report predicts sales would ramp up at the second half of this decade, reaching 1.7 million in 2020.

The research firm says only around 410,000 plug-in electric vehicles will be sold between 2011 and 2015 in the United States, and the 1 million mark will only be reached by 2018.

Global markets though would reach that milestone a year earlier, and would approach volumes of 1.7 million annually by 2020.

"While it is true that plug-in electric vehicles have seen delays in arriving on the market and have sold in fewer numbers than originally anticipated, we expect strong growth as global PEV sales volumes will nearly triple between 2012 and 2014," says research director John Gartner.

He adds that automakers have made a strong commitment to EV's, and doubt in its viability as a transportation platform has been assuaged.

Once the market matures, regional differences in adoption patterns will emerge, he said. "For example, while plug-in hybrid electric vehicles will outsell battery electric vehicles in North America, the converse is true in Europe and Asia," the report said.

Carmakers' strategies would continue evolving, with a majority doing so at a measured pace – evaluating new technologies and consumer preferences based on regional differences in demand, the report said. – EcoSeed Staff

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