Research and Markets: Global Electric Taxi Market 2014-2018: Some of the Major Countries Witnessing a Strong Demand for Electric Taxis are China, the Philippines and India
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/w24rwb/global_electric) has announced the addition of the "Global Electric Taxi Market 2014-2018" report to their offering.
The analysts forecast the Global Electric Taxi market to grow at a CAGR of 33.98 percent over the period 2013-2018. One of the key factors contributing to this market growth is the cost-efficiency of electric vehicles. The Global Electric Taxi market has also been witnessing the high demand for low-cost electric taxis. However, the limited range of electric vehicles could pose a challenge to the growth of this market.
Key vendors dominating this space are BYD Motor Corp., Chery Automobile Co. Ltd., Nissan Motor Co. Ltd., SAIC Motor Corp. Ltd., and Tesla Motors Inc.
Other vendors mentioned in the report are BMW AG, Fiat Group, General Motors Co., Honda Motor Co. Ltd., Mitsubishi Motor Corp., Toyota Motor Corp., and Volkswagen Group.
Commenting on the report, an analyst from the team said: The high demand for low-cost electric taxis, primarily in emerging countries, is a major trend being witnessed in the Global Electric Taxi market. Some of the major countries witnessing a strong demand for electric taxis are China, the Philippines, and India. These countries are witnessing growing demand for micro electric taxis, which come in the form of e-rickshaws in India or e-trikes in Philippines. These electric taxis cost much less than pure-electric taxis, making them a more viable option for many buyers. However, these low-cost electric taxis usually do not undergo crash testing and high-cost design improvements. Nevertheless, these factors make them a more affordable option for many consumers.
According to the report, the main factor driving the Global Electric Taxi market is the cost-effectiveness of EVs. The EVs currently being used as taxis are pure-electric taxis that do not require any gasoline. After charging, the vehicle's battery can run on the same electric charge for about 80 miles, thus helping users save on running costs on each trip. For example, a Chevrolet Volt can cover over 80 miles per charge while the Tesla S can cover more than 280 miles. Fuel costs are surging, so using an electric car as a taxi can be highly beneficial, especially on short journeys.
For more information visit http://www.researchandmarkets.com/research/w24rwb/global_electric
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