Electric Car Demand Strong In Brazil, India And China
In a recent global consumer survey, global consumer segmentation for electric vehicles indicates “potential first mover” or “willing to consider” interest to be over 85 percent in the emergent markets of Brazil, India and China.
By Dave Brown —Exclusive to Lithium Investing News In a recent global consumer survey from Deloitte, global consumer segmentation for electric vehicles indicates “potential first mover” or “willing to consider” interest to be over 85 percent in the emergent markets of Brazil, India and China. A Global Manufacturing Industry group from within the consulting firm launched an extensive research study intended to measure consumer sentiment toward pure electric vehicles. The survey was conducted with data obtained from 13,000 individuals represented from 17 countries across the Americas, Asia and Europe. Although the report offered a bearish point of view for global consumer expectations not being met by current market offerings, some very interesting and even optimistic details might be of value. Range bound Lithium battery manufacturers and investors will note that these survey results come with ambitious consumer expectations for the electric vehicles on a number of key criteria including price and range. Consumers in France and the United States appear most sensitive in considering range as a limiting factor, with only 67 percent and 63 percent satisfied with a range of below 480 kilometers. Brazil, India and Taiwan appear to have more practical expectations, with nearly 50 percent of these markets content with a range of up to 160 kilometers. In every nation represented in the study a majority of drivers expect electric vehicle ranges much longer than their ordinary weekday driving demands, which on a global average basis within the survey was typically less than 80 kilometers per day. The report highlighted the underlying need for lithium battery manufacturers to address the challenges of battery mass and operational efficiency by reconciling advancements in energy density, lighter weight material components and reduced vehicle weight construction combined with high strength materials, effectively increasing the driving ranges.