Battery electric vehicles (BEVs) have failed to achieve sales anywhere near the levels required to meet some of the ambitious targets set by OEMs and global leaders at the start of the decade; Renault-Nissan’s Carlos Ghosn promised 1.5 million EVs by 2020; Angela Merkel called for 1 million EVs on the roads in Germany by 2020; and Barack Obama called for 1 million EVs on US roads by 2015.
Those targets have been quietly forgotten, but electrification is widely seen as an inevitable part of future mobility. Whether this entails part-electrification – like mild hybrids or cars with range-extending technology – or full electrification, will depend on a number of factors, including OEM corporate strategy, regulation, government incentives and fuel prices.
Using exclusive insight from leading executives from OEMs, suppliers, consultants and trade associations engaged with the electric vehicle market, this report addresses the question of whether BEVs can ever be profitable.
Table of contents:
- Executive summary
- Introduction: BEVs and electrification
- What’s preventing EVs from being profitable?
- Proposed strategies for BEV success
- BEV profitability? It’s going to take time