Electric Land Vehicles

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.

IDTechEx find that pure electric car sales in 2013 will be 70,000 vehicles rising to 2 million in 2023, versus 2 million hybrid vehicles this year rising to 7.6 million in 2023.

The new report from IDTechEx Hybrid & Pure Electric Vehicles for Land, Water & Air 2013-2023: Forecasts, Technologies, Players finds that the total market for hybrid and pure electric vehicles will grow from 38.8 million vehicles (of all types) in 2013 to 116 million vehicles in 2023 - a $294 billion market.

Most electric vehicle sectors are profitable and growing. Toyota has nearly half of the $63 billion global market for electric vehicles land, water and air, according to an IDTechEx analysis in the new report, Hybrid and Pure Electric Vehicles for Land, Water and Air 2013-2023: Forecasts, Technologies, Players.

Maxwell Technologies, which has been the leader in supercapacitors worldwide, has been overstating its results by improperly recording certain sales through distributors.