Global sales of electrified vehicles to approach 4 million annually by 2020, says Pike Research

  • 03-Jan-2013 01:24 EST

Ford says the 2013 Fusion Energi plug-in hybrid electric vehicle will deliver more than 100 mpg-equivalent.

Annual global sales of electrified vehicles will reach 3.8 million by 2020, Pike Research forecasts in a new report. The company, part of Navigant's Energy Practice, projects the compound annual growth rate for hybrid vehicles at 6% for the remainder of the decade. The growth rate for PEVs—which include full electric vehicles (also called battery electric vehicles, or BEVs) and plug-in hybrid electric vehicles, or PHEVs—is projected at nearly 40%. That compares to a growth rate for the overall auto industry of about 2%, according to Pike. It believes PHEVs will outsell EVs in North America and Latin America, while the reverse will be the case in most other regions.

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