Green

Almost Half of Americans Would Buy Plug-in Hybrid Electric Vehicles

A recent study by Pike Research says that 48% of Americans would purchase a plug-in hybrid electric vehicle (PHEV) with a 40 mile charge. Interestingly, the results revealed that only a mere 8 percent of the surveyed persons were uninterested in the purchase of a PHEV. The PHEVs promise dramatic improvements in fuel economy and come from the convergence of two technologies: HEVs and lithium ion batteries.

The report analyzed the emerging plug-in hybrid electric vehicle market focusing on business issues and demand drivers, technology issues, relevant infrastructure, regulatory standard, government incentives and also assessed PHEV programmes. The development of PHEVs is largely due to government incentives and an increasing consumer demand. In the US, improved fuel economy is largely encouraged, while Europe charges high fuel taxes and has imposed limits on vehicle emissions.

Pike Research’s report says that by 2015, the US would be the largest market for HEVs and PHEVs, and estimates sales of 640,000 vehicles of both categories. China is in an estimated second place, with over 500,000 hybrid vehicles to be sold that very year. Pike Research also anticipates that by 2015, a total of 1.7 million PHEVs will be on roads worldwide.

In August 2008, US President, Barack Obama kicked off an ‘energy week’ talking of dramatic auto technology proposals, saying he hoped to see one million PHEVs and HEVs by 2015, which is a long shot from Pike’s estimations. Obama’s proposals included the following:

– $4 billion in tax credits to American automakers to retool plants for the production of plug-in hybrid cars capable of 150 miles to the gallon

– $7,000 tax credit for consumers purchasing early model plug-in vehicles

– 50% of all cars purchased by the federal government would be plug-in hybrids or all-electric by 2012