Document summary
Demand for electric vehicles is forecast to reach 4.8 million units globally by 2020, though short-term hybrid vehicles are expected to gain momentum. From 2014-15 a greater uptake in pure electric vehicles is expected as technology improves, battery costs fall and range anxiety diminishes. By 2020 34% of geographic demand will be from Europe, 37% from the US, 20% from Japan and 9% from China, depending on cost developments and regulation. Battery cost reduction will be a key driver. There is potential from the power generators to support the rollout by allowing users discounted rates for charging vehicles overnight.