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The Global electric car market has been witnessing a considerable progress with some notable milestones in terms of sales, global R&D efforts, and increased model diversity, which suggests an optimistic outlook for the industry. In 2012, the total number of the Electric Vehicles sold globally accounted for nearly 1.3 Million Units from around 1.0 Million Units in 2011. Further, in future the market sale is anticipated to grow at a CAGR of around 17% during 2012-2017 to reach 2.9 Million Units by the end of 2017.

Emphasizing on the opportunities in the emerging market, Shushmul Maheshwari, CEO, RNCOS said that increasing the focus on the charging infrastructure for electric vehicles would pave way for higher vehicle adoption. Further, an uptrend could also be seen in the market with the introduction of more efficient and reliable batteries with better driving range, less weight and recharging time for the cars.

Our Analysis suggest that the gradual tightening of global fuel-efficiency standards is forcing automakers to assess their options, including the application of advanced technology which would propel this industry to large extent in the coming future. In addition to this, with Automaker's advanced green-car engineering programs, electric cars are expected to have a major impact in the auto industry given advantages in city pollution, less dependence on oil, and expected rise in gasoline prices. Also, World governments are pledging billions to fund development of electric vehicles and their components which would lead to more affordable and practical electric cars on the market in the near future.

The Global electric car market is thus expected to flourish with Hybrid and plug in electric vehicles becoming an increasingly important part of the automotive market. RNCOS acts as your growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with your business and devising the right strategies.

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