National and local incentives promoting the use of electric vehicles in Asia will help put more than 1.4 million plug-in hybrid and electric vehicles on roadways by 2015, making it the largest market worldwide for electrified vehicles, according to a new report. While Asian markets have so far focused on production of plug-in hybrids, market attention will increasingly turn to the development of all-electric vehicles, according to the report by Colorado-based Pike Research.
More than half of all plug-in electric vehicles will be sold in China, where government incentives will help the market achieve a compounded annual growth rate of 76 percent by 2015. The biggest seller in Japan, the region’s second-largest market, will be plug-in hybrids. While concerns about range and availability of charging points have been a barrier to sales of green vehicles, Pike Research said there will likely be more than 2.6 million electric vehicle charge points across the region by 2015.