French carmaker Peugeot is set to release its first zero-emission car this year and prepares to electrify its whole range by 2023 which will drive the electric vehicle market.Global: Auto giant Peugeot to launch “e-208” fully electric functioning car, will be released in late summer 2019 and the first in a series of all-electric models, with the firm readying itself to electrify its whole range by the year 2023. Petrol and diesel versions of the "208" model will also be available. The e-208 is powered by a 100-kilowatt electric motor and 50-kilowatt-hour battery and had a range of up to 211 miles. The vehicle can be charged using three methods. A domestic plug can provide a complete charge in 20 hours or more, while a dedicated charging point can charge the vehicle in around eight hours. Public terminals that offer rapid charging can also be used. Peugeot is the latest major car company to make a move in the electric vehicle sector. In 2018, for instance, Mercedes launched its first all-electric SUV, the Mercedes-Benz EQC, while Volvo Cars bought a stake in FreeWire Technologies, a California-based electric car charging business, through its Volvo Cars Tech Fund. The e-208 is a great step in cementing Peugeot’s foothold in the ever-growing EV market According to BlueWeave Consulting, Electric vehicles (EVs) are the inevitable future of the automotive industry. The move to electrify vehicles has gathered momentum the world over. Generous subsidies and tight regulation continue to drive much of the growth. The demand for electric vehicles is governed by an increase in demand for fuel-efficient, high-performance, and low-emission vehicles. The electric vehicles market is emerging as an integral part of the automotive industry and represents a pathway towards achieving energy efficiency along with reduced emission of pollutants and other greenhouse gasses. Key factors such as government funding, subsidies, and incentives, growing demand for electric vehicles, growing concern toward environmental pollution, and heavy investment from automakers of EVs are driving the electric vehicle charging stations market. Moreover, technological advancements in electric vehicles and proactive government initiatives are expected to unfold various opportunities for the growth of the electric vehicle market in the future. According to the recently published report by BlueWeave Consulting on “Global Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014-2024,” the Global Electric Commercial Vehicles market is projected to grow at a CAGR over 13.0% during the forecast period in terms of value. The market is expected to reach over USD149.3 Bn by 2024, supported by government subsidies and tax rebates for commercial electric vehicles. Need for fuel-efficient and emission-free vehicles and the increasing demand for the electric commercial vehicle such as an electric truck in the logistics industry to minimize the additional liability of fuel expenses. Innovations in EV battery capacity, which will enable the electric commercial vehicle to carry heavy loads over a longer range, can create new revenue generation opportunities. According to the recently published report by BlueWeave Consulting on, “Global Electric Vehicle (EV) Charging Station Market by Product Type (AC EV charging station, & DC EV charging station), by AC EV Charging Station (Level 1 & Level 2), by DC EV Charging Station (CHAdeMO, Combiner charging station & Others), by Installation Type (Residential, & Commercial), by Supplier Type ( Private charging Station & OE charging station) by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Size and Forecast, 2018-2025” the global electric vehicle (EV) charging station market is expected to grow over a CAGR over 29% during 2018-2025 in terms of value. Government supporting and introducing new initiatives to drive the growth of Electric Vehicle and Electric Vehicle charging station industry is driving the growth of the market. In addition, the price of fuel is constantly increasing which is urging the people to look for better and another energy efficient alternative. Oil price will increase over the forecast period which will accelerate the market demand for electric vehicles and EVs charging stations. These factors are constantly accelerating the growth of the electric vehicle (EV) charging station market globally.
Peugeot to launch a zero-emission car, 100 percent electric
Published Date | 2019 February 27