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AUTOWORLD » Green vehicles Share

Number of electric vehicles on roads reaches 2 million - IEA

Number of electric vehicles on roads reaches 2 million - IEA

* Electric vehicles rise to 2 mln globally last year * Still only account for 0.2 pct of passenger vehicles * Could reach 9-20 million by 2020, 40-70 million by 2025 LONDON, Jun 7 (Reuters) The number of electric vehicles on roads worldwide rose to a record high of 2 million last year, but has a long way to go to reach levels needed to help limit an increase in global temperatures, the International Energy Agency (IEA) said on Wednesday. In 2015, the number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, was 1 million, the IEA said in a report. Even though that doubled last year, the global electric car stock is only 0.2 percent of the total number of passenger light-duty vehicles in circulation. "They have a long way to go before reaching numbers capable of making a significant contribution to greenhouse gas emission reduction targets," the IEA said. "In order to limit temperature increases to below 2 degrees Celsius by the end of the century, the number of electric cars will need to reach 600 million by 2040," it added. Research and development and mass production improvements are resulting in lower battery costs and this trend should continue, which should narrow the cost competitiveness gap between electric vehicles and internal combustion engines. There is a "good chance" the global electric car stock could reach carmaker estimates of between 9 and 20 million by 2020 and between 40 and 70 million by 2025, the report said. The electric car market is still concentrated in a limited number of countries. Globally, 95 percent of electric car sales are taking place in just ten countries - China, the United States, Japan, Canada, Norway, Britain, France, Germany, the Netherlands and Sweden. Last year, China overtook the United States as the country with the largest electric car stock, with around a third of the global total, the report said. Even though battery costs have fallen since 2009, they are still a major component of cost and drive up retail prices. Therefore, financial incentives such as rebates, tax breaks or exemptions are important to support electric car deployment, but they might need to be phased out when electric car costs rival those of internal combustion engines, the report said. REUTERS PY 1434

Maruti’s

Maruti’s new Dzire crosses 1 lakh sales mark in 5 and half month

Mumbai, Oct 17(UNI)Auto Major,Maruti Suzuki’s all-new Dzire has achieved the fastest 1-lakh sales mark, a distinctive feat in the Indian automobile industry.

Ford's

Ford's China sales stuck in first gear as rivals overtake

BEIJING, Oct 13 (Reuters) Ford Motor Co saw its China vehicle sales make the barest of increases in September, extending a tough run in the world's largest auto market even as global rivals have logged robust gains.

Toyota

Toyota seeking to halve Japan car models as domestic market shrinks

TOKYO, Oct 12 (Reuters) Toyota Motor Corp is aiming to halve the number of car models it sells at home by 2025, a person briefed on the matter said - the second time this month that a Japanese automaker has emerged with plans to sharply scale back in a shrinking domestic market.

Volvo

Volvo launches 1st locally-assembled 'XC90' from its plant in Bengaluru

Mumbai, Oct 11 (UNI) Volvo Cars, the Swedish luxury car maker, has rolled out its first assembled car from its plant in Bengaluru.

Volkswagen

Volkswagen launches all New Passat starting at Rs 29.99 lakhs

New Delhi, Oct 10 (UNI) Volkswagen, Europe’s leading car manufacturer, today announces the launch of the much awaited luxury sedan Volkswagen Passat at a starting price of Rs 29.

Passenger

Passenger vehicle sales up by 11pc in domestic market in Sept 2017

New Delhi, Oct 9 (UNI) The Domestic passenger vehicle sales growth has been recorded up by 11 per cent to 3,09,955 units in September from 2,78,428 in the same month last year.

Honda faces long haul to recoup jet costs

Honda faces long haul to recoup jet costs

TOKYO, Mar 27 (Reuters) After three decades building an airplane from scratch, Michimasa Fujino, 56, chief engineer of the Hondajet, might have to reach a ripe old age to see Honda Motor Co's pet aviation project recoup its development costs.

Escorts unveils country’s first electric tractor concept, Launches Hydrostatic tractor

Escorts unveils country’s first electric tractor concept, Launches Hydrostatic tractor

New Delhi, Sep 6 (UNI) Escorts Ltd, India’s leading engineering conglomerate today launched India’s first Electric & Hydrostatic concept tractor and an expanded global portfolio of tractors for the export and domestic market in 22HP to 90 HP range under flagship brands Farmtrac and Powertrac compliant with tier 4 emission norms of Europe and America amidst 43 International distributors.

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