Navigant Research recently released a research report on plug-in electric vehicles (PEV), saying that global plug-in electric vehicle sales increased by 70% to about 1.9 million units in 2018, and the growth momentum will be even stronger in 2019.

In 2018, PEV's sales in North America doubled, with sales in Europe and China increasing by 39% and 77%, respectively. In 2019, the multiple deployment of remote battery electric vehicles (BEVs) in crossover models and the full production of Tesla on Model 3 and the expansion of its vehicle shipments to overseas markets laid the foundation for continued market growth. . Therefore, this year's development momentum will be even stronger.

Scott Shepard, senior research analyst at Navigant Research, said: "The annual PEV sales in the global light vehicle market are estimated to be between 15% and 32% by 2030, and the global PEV population will reach 107 million to 190 million. This long-term growth. Mainly due to the improvement of automobile technology economy, battery innovation, government transportation energy policy, oil price forecast and carbon price trend."

Despite the considerable growth in the PEV market, challenges remain, such as vehicle availability, consumer awareness, charging infrastructure, and threats from competing alternative fuel or fuel efficiency solutions. These challenges are being overcome as the natural cycle of technology development and the joint efforts of stakeholders (governments, automakers and energy suppliers) to drive the market to shift to lower emissions, especially electrification. In the highly competitive powertrain option, PEV is about to become a leading traditional alternative and the most capable of leading the future of the light vehicle market.