Green living: Save Our Earth By Living Green

Electric cars on the up and up

According to new research recently published, the market for electric cars and hybrid vehicles looks set to increase rapidly in the years to come.

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Photo: Revolve Eco-Rally

The report, entitled: “Opportunities for System and Semiconductor Manufacturers in Hybrid and Battery Electric Vehicles” produced by Wellingborough-based IMS Research, an independent provider of market research to the global electronics industry, reckons that 16% of all vehicles manufactured worldwide by the year 2021 will be electric cars – including hybrid cars, plug-in hybrid vehicles, and battery electric or fuel cell vehicles.

Of course this is educated guesswork, but it makes for very interesting reading. For investors, the feed-in technologies may mean there are manifold opportunities for smaller companies to gain a foot-hold.

A great deal will depend on the price of oil. But despite recent relatively small pull-back the oil price continues to rise inexorably fuelled in particular by burgeoning demand from China, India and other growth economies.

This, in turn, has caused consumers all over the world to seek out cars which are far more economical to run than most of the models currently available.

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Photo: jokke75

Hybrid cars, in particular, are increasingly becoming the choice of “best family car” for families seeking improved fuel economy whilst simultaneously looking to make greener life choices.

The hybrids combine fuel economy with practicality due to the lack of a need to be re-charged and sales are on the increase whilst purely electric car manufacturers struggle.

A lot will also depend on public policy around the world. Pick up any newspaper at the moment and you’ll read about governments around the world having to drastically cut spending in order to balance the books.

And when the financial purse strings really get tightened, then public spending on environmental subsidies may fall victim in the short term. But over the longer term, government policy around the world is certainly on the side of all things carbon-reducing.

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