EV Production to Rise 67% in 2014

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The research firm IHS Automotive predicts worldwide EV production will soar to more than 403,000 in 2014 – a dramatic 67% increase.

Africa, Europe, and the Middle East would account for the largest share of increased production at more than 40%, while the Americas and Asia-Pacific region would make up about 30%.

The larger rise in EV production in Europe is directly tied to stronger governmental regulation.

“European emissions standards are tightening in the second half of this year with the implementation of the European Commission’s Euro 6 legislation,” said IHS analyst Ben Scott.

“At the same time, European automakers are introducing compelling new EV models, such as the BMW i3. These factors will boost EV demand and manufacturing in Europe in 2014.”

In addition to predicting a global rise in EV production, IHS also predicted:

While those predictions show promise for an increasingly electric future, IHS stressed the critical role government incentives play in countries serious about shifting to electric vehicles on a national scale.

“Legislation and incentives are proven to make a significant difference to EV consumer interest as was seen in the Netherlands at the end of 2013, when a tax incentive ended. In this country, more Mitsubishi Outlander PHEVs sold in December 2013 than the combined US sales of the Chevrolet Volt and Nissan Leaf in the same month,” Scott remarked.

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