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Electric Vehicles Charge Forward With 150 Mile Range

Electric vehicles (EVs) are slowly winding their way into the hearts and minds of drivers and the pace is expected to pick up this year.

Worldwide production of all-electric and plug-in vehicles is expected to rise 67% in 2014 to 403,000 vehicles, up from 242,000 last year, according to market research firm IHS Automotive, when they were the fastest growing segment of the auto industry.

Last year, 96,000 EVs sold in the US.

Thanks to competition, battery prices are dropping rapidly – the most costly component of EVs – starting this year, bigger batteries will be in many cars, giving them a 150 mile range.

Battery makers now include LG Chem (Chevy Volt), Panasonic (Tesla’s Model S) and Samsung SDI (BMW i3 and Fiat 500e).

IHS points to two reasons for greater growth this year: more stringent emission standards in Europe which take effect later this year and the greater variety of models available on the market.

New vehicles entering the market this year include: BMW’s i3, Volkswagen’s e-Up!, Mercedes-Benz B-Class Electric and Audi’s A3 e-tron plug-in hybrid. More product availability and greater choice will help widespread adoption of EVs.
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