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Electric Car Sales Seen Growing Rapidly in Germany – WSJ.com

FRANKFURT–Electric car sales in Germany could rise rapidly in the next few years, the country’s Association of the Automotive Industry said Tuesday, as manufacturers spend billions of euros on research and development.

Tens of thousands of cars powered solely by a battery, or by a combination of a combustion engine and an electric drive, could be sold in 2014, said Matthias Wissmann, president of the association of German car makers. Sales could rise to at least 100,000 by mid-decade, he said at the Frankfurt auto show.

In 2012, around 1,700 electric cars were sold in Germany.

The German automotive industry will invest 12 billion euros ($16 billion) in the development of alternative drives within three to four years, said Mr. Wissmann.

More http://online.wsj.com/article/BT-CO-20130917-705503.html

Electric Car Sales Seen Growing Rapidly in Germany

By Friedrich Geiger

FRANKFURT–Electric car sales in Germany could rise rapidly in the next few years, the country’s Association of the Automotive Industry said Tuesday, as manufacturers spend billions of euros on research and development.

Tens of thousands of cars powered solely by a battery, or by a combination of a combustion engine and an electric drive, could be sold in 2014, said Matthias Wissmann, president of the association of German car makers. Sales could rise to at least 100,000 by mid-decade, he said at the Frankfurt auto show.

In 2012, around 1,700 electric cars were sold in Germany.

The German automotive industry will invest 12 billion euros ($16 billion) in the development of alternative drives within three to four years, said Mr. Wissmann.

He predicted car makers such as Volkswagen AG (VOW.XE), BMW AG (BMW.XE) and Daimler AG (DAI.XE) to offer 16 electric models “made in Germany” by the end of next year.

Nico Schmidt contributed to this story.

Write to Friedrich Geiger at friedrich.geiger@wsj.com

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