It’s been tough times for makers of battery-based vehicles. With cheap gas, demand for hybrids, plug-in hybrids and pure battery-electric vehicles took a sharp tumble in 2015, the first significant decline since the beginning of the decade.
But with new, longer-range and more affordable products set to come to market, demand is looking to rebound, even if gas prices don’t climb, according to a new study by Navigant Research. Sales of plug-based models should grow 62% year-over-year, to about 200,000 sales in 2016, said the Navigant study.
A key to that is the arrival of products like the Chevrolet Bolt, said Scott Shepard, a senior research analyst. “The long-range BEV (or battery-electric vehicle) is a marked achievement in the industry.” (more…)