The market for electric taxis will be a huge 345,000 vehicles in 2017, surpassing $10 billion in business as early as 2019 as forecasted by new IDTechEx research in its recently published report, Hybrid and Electric Buses and Taxis 2013-2023: Forecasts, Opportunities, Players.

IDTechEx projects that 119,000 electric taxis will be sold giving a $1.8 billion global market. Most of the commercial electric vehicles, including the taxis, are and will be pure electric. That will even be true of large commercial vehicles, notably e-buses, set to exceed a $20 billion market as early as 2018 and dominated by demand in China.