EVs are Dead, Long Live Tesla says Morgan Stanley analystFri, 30 May 2014
The Tesla Model S is the only successful electric car
The experiment of getting the car buying public to believe an electric car is a sensible alternative to an ICE car isn’t an unmitigated failure – but it’s close. And now Investment Bank Morgan Stanley has come out and stated the obvious: Apart from the success of Tesla, electric cars are a failure, falling far short of sales predictions and likely to see no real growth in the coming years.
Morgan Stanley declare that we will still all be driving ICE cars for the foreseeable future, and despite predictions that as many as one in ten cars will be BEVs by 2020 the reality is likely to be less than one in a hundred.
In fact, Morgan Stanley see the future as moving towards plug-in hybrids (like the new Mitsubishi Outlander PHEV), where motorists get the range of an ICE car but with EV driving in cities, and the rise of the hydrogen fuel cell powered car likely to offer pure EV running but with proper range and easy refuelling (once the infrastructure develops) will be where the market goes.
In fact, as PHEVs and Hydrogen Fuel Cell cars become more freely available, it seems likely the only buyers of pure BEVs will be the blinkered few who see an electric car as a statement of their green credentials.
And in many ways this will probably come as a relief to the car industry; with the exception of Telsa, all EV makers are probably making a loss on every electric car they sell (Fiat lose $14k on every electric 500e), and most car industry bosses believe the “…electric car market is carnage and that EVs are not fit for primetime sales“.
But you already knew all this.
By Cars UK