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Research and Markets: Electric Vehicle Production to Drive Advanced Battery Market Revenue to $61 Billion by 2020 – WSJ.com

South Sioux City is one step ahead of the curve when it comes to environmental issues. Last October, the South Sioux City Finance and Public Works Committees both approved a three-year lease of an electric car from Billion Auto and began planning the construction of a charging station at the city hall.
The lease came as part of an initiative to excite residents about potentially using an alternative fuel vehicle, as well as a statewide effort to build more charging stations and make Nebraska a greener state.
“The more people get a chance to drive the vehicle the more they will feel comfortable in it and see that it does have pizzazz and can work in the winter and does have a heater in it,” says Lance Hedquist, City Administrator of South Sioux City. “The more people get the chance to see how well it works, I think there will be more initiative by residents to get electric cars.”
However, in order to have electric cars, one needs charging stations. “It’s a chicken and the egg situation,” says Hedquist. “If you don’t have charging stations, then how are you going to have the vehicles?”
Thankfully, South Sioux City was selected in a nationwide promotional project to receive a free charging station, which will be up and running this week.
The charging area is located right next to the City Hall building and can only take card payments. Since charging can typically take a few hours, reservations need to be made, and can be done so online or by a Smartphone. Also, the station can charge up to two cars at one time.
Since Nebraska is the only totally public power state in the United States, many officials find it important to help promote electricity and electrical use in our community and the state of Nebraska. The move is seen as both beneficial for the state and the environment.
“We think the more people get a chance to see this, it will get more public acceptance in the area and reduce our reliance on foreign oil,” says Hedquist.
However, with the new technology, there are a lot of questions. This is why the city allows residents to come and test drive the car, asking any questions they want and getting a feel for the new vehicle.
The car gets about 87 miles on a fully charged battery, but has an eco-mode so as to save electricity, often giving it about 20 miles of extra life. It is estimated to cost $250 to power the car for 10,000 miles. Despite concerns about the power of electric cars, it has quite a bit of kick and would be an ideal in-town car.
“You’ll find incredible acceleration,” says Hedquist. “This is not a golf cart, this is one that does have acceleration and can actually beat a police car off the line.”
Spurce http://online.wsj.com/article/PR-CO-20130705-904872.html

Research and Markets: Electric Vehicle Production to Drive Advanced Battery Market Revenue to $61 Billion by 2020

DUBLIN–(BUSINESS WIRE)–July 05, 2013–
Research and Markets (http://www.researchandmarkets.com/research/4slbnr/advanced) has announced the addition of the “Advanced Batteries – Global Market Size, Regulations, Competitive Landscape and Pricing Analysis to 2020” report to their offering.

The successful commercialization and increased adoption of Hybrid Electric Vehicles (HEVs) and Battery Electric Vehicles (BEV) will spark dramatic growth in the global advanced battery market in the near future, says research and consulting firm The authors.

The company’s latest report* forecasts global advanced battery market revenue to surge from $19.9 billion in 2012 to a massive $60.5 billion by 2020, with batteries produced specifically for electric vehicles accounting for 73% of the total.

Reduced carbon emissions and lower fuel consumption have driven impressive uptake of HEVs, such as the Toyota Prius and Honda Insight, in recent years, resulting in the electric vehicles battery sector expanding from a value of $3.6 billion in 2008 to $10.3 billion in 2012.

The authors’s new analysis states that technological advances aimed at increasing battery storage capacity and reducing unit weight, combined with the growing public acceptance of electric vehicles, is expected see the global market for advanced batteries for electric vehicles soar to $44.3 billion by the end of the decade.

As examined in The authors’s report, the advanced battery market comprises of nickel-based varieties, often employed in computer peripherals, medical imaging equipment and some HEVs, and Lithium-ion batteries, which are used in a variety of applications, including mobile electronics, large-scale power storage systems and most electric car batteries.

Due to the huge global demand for consumer electric products, The authors expects the lithium-ion sector to remain the more valuable portion of the advanced battery market for the foreseeable future, claiming 87% of total revenue in 2020.

Companies Mentioned

The Panasonic Corporation.

Samsung SDI

LG Chem, Inc.

China BAK Battery

BYD Company Ltd.

For more information visit http://www.researchandmarkets.com/research/4slbnr/advanced

About Research and Markets

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Sector: Energy and Natural Resources

SOURCE: Research and Markets
Copyright Business Wire 2013

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