From 2017 to 2018, PEV sales doubled in North America, and sales in Europe and China increased 39% and 77%, respectively, according to a new report from Navigant Research. In 2019, multiple deployments of long-range battery EVs (BEVs) in crossover classes, as well as Tesla reaching full-scale production on the Model 3 and expanding its vehicle shipments to markets abroad, are setting the stage for continued market growth, Navigant says. By 2030, annual PEV sales are estimated to be between 15% and 32% of the global light duty vehicle market, producing a global PEV population between 107 million and 190 million. This long-term growth is expected to be propelled by improving vehicle technology economics—a function of battery innovations, government transportation energy policies, oil price projections, and movements to price carbon. —Scott Shepard, senior research analyst with Navigant Research Though PEV market growth has been considerable, challenges remain. These include […]