Dec 09 2010
PLUG AND PLAY
Governments globally have been pledging investments to technology and infrastructure to develop the “clean vehicle” sector.
Asia is expected to take on the lion’s share in terms of demand for alternative energy vehicles.
For example, China targets to have 500,000 to 1 million green cars on the road by 2015, decreasing annual fuel consumption by as much as 30% – and by 2030 experts at research house Solidiance are forecasting that sales of electric vehicles on the Chinese mainland could reach as much as 25 million!
With such substantial growth it’s no wonder that industry players are exploring windows of opportunity to enter the market.
Solidiance notes for example, that the battery market for EVs alone in China could be worth as much as $57 billion in 2020.
In Singapore Greenlots has approached a different angle for business potential.
The company started in Singapore two years ago bringing electric scooters to the Singapore market – now they are developing electric vehicle infrastructure – and they are the guys behind the technology of these charging stations that will be increasingly mushrooming around Singapore in the coming year.
If you are looking to go down the electric road in the coming year – new options may be opening up in the year ahead.
This Porsche for example – doesn’t look like your run-of-the-mill electric vehicle – silent when started – the car can still reach top speeds in a matter of seconds. It is the work of evHUB.
evHUB is a research centre for plug-in hybrid electric and electric vehicles in Singapore, and it’s looking to open its doors to consumers in the coming year.
And if you are concerned as to where you can go for a quick fix on your electric vehicles – evHUB has been working alongside educational institutions to help educate the next generation of engineers in Singapore the future potential of the electric vehicle industry.
So while there seems like there could be significant potential in the market – it still remains to be seen which way the growth will go.
With continuous evolution not only for electric vehicle batteries but also other vehicle alternatives – the next few years in this space will be interesting to watch and see how the cookie crumbles… with options in the market mounting consumers may well take their time to muster up the market without heavy government subsidies into their purchases.
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