Electric Vehicles: No Lift off Without State Support

The global market of electric vehicles continues to develop rapidly: in 2017 there were already 3.4 million EVs registered worldwide. However, it appears that the optimism about its future has diminished over the last couple of years: the authorities have less desire to maintain generous support programs, technological breakthroughs are not expected yet. By 2020, subsidy programs will be fully or partially concluded in seven major markets, which will negatively affect sales. The breakthrough effect of the technologies of production of fundamentally new types of batteries that are currently at the stage of pilot testing may be achieved not earlier than in 15-20 years.

In the VYGON Consulting research "Electric Vehicles: No Lift off Without State Support" company analysts studied the current state and the near-term prospects of the global market of EVs and their competitiveness. Particular attention is paid to the state of affairs in Russia, where the spotlight appears to be on the development of another type of environmentally friendly transport – natural gas vehicles.