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Rexel shares booming EV market optimism

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Prius Plug-in: Demand for electric vehicles is soaring globally

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20 January 2016

JATO Dynamics prediction:

  • Study forecasts that the global market will reach sales in excess of 700,000 units this year thanks to strong growth in China, Europe and the USA
  • Expected 5.5 million EVs to be on the road by 2025.

LEADING renewables expert Rexel UK has pledged its full support to a major new report which predicts that 2016 could be a record year for the electric vehicle (EV) market.

According to a new white paper by JATO Dynamics Ltd, both the short and long terms outlooks for EV are positive, with sales expected to hit record levels from this year. The study forecasts that the global market will reach sales in excess of 700,000 units this year thanks to strong growth in China, Europe and the USA – with an expected 5.5 million EVs to be on the road by 2025.

Steve Everard, head of Rexel Energy Solutions UK, shares JATO’s EV market optimism, saying: “Although EVs are still only in the early stages of the commercial cycle, the reality is that recent years have seen the EV progress to become more than just a distant vision but rather a tangible reality.

“Amid growing awareness, concerns around fuel prices and Government stimuli – with the UK Government recently pledging to ensure the majority of cars and vans will be zero emission by 2050 – the fact is that the future of the automotive industry lies in EV.”

Interestingly, the white paper illustrated that mass market appeal appears to lie with the younger population. The report asserts that a survey undertaken by Deloitte in 2011 showed that 44% of respondents in the UK said they were unlikely to consider an EV; while a more recent study by the UK Government shows 81% of young people would consider this type of vehicle when buying their first car.

If we are to achieve a bright EV future it’s important to have buy-in from everyone. Therefore, from manufacturers bringing new innovations to market and Governments providing incentives through to commercial outlets providing charging infrastructure, we all have a job to do it making the EV transition as easy as possible until it comes to be the norm

Steve adds: “It is not surprisingly that today’s younger generations are much more receptive to the EV concept; after all it is typically easier in any domain when starting out from scratch as opposed to breaking the traditional mindset.

“However, if we are to achieve a bright EV future it’s important to have buy-in from everyone.

“Therefore, from manufacturers bringing new innovations to market and Governments providing incentives through to commercial outlets providing charging infrastructure, we all have a job to do it making the EV transition as easy as possible until it comes to be the norm.”

Rexel UK is a business-to-business distributor of electrical installation supplies. It is part of the Rexel Group, a global leader in the professional distribution of products and services for the energy world, which addresses three main markets – industrial, commercial and residential.

The Rexel mission is to support customers, wherever they are, to provide them with the newest and most innovative range of sustainable and innovative products and services from around the globe to help them prepare for the new energy world.

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