Driven by government initiatives and fossil-fuel dependency in U.S. and China the electric vehicle market will lay the groundwork for the next generation of automotive technology, vehicle-to-grid (V2G).
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Austin, TX - (Zpryme) – 07/28/10 – 400,000 gallons of oil have spread off the coast of Dalian, China. Stateside, the Deepwater Horizon oil spill has spewed 94 million to 184 million gallons of oil and just two days ago, a state of emergency was declared in southwest Michigan as more than 800,000 gallons of oil was released into the Kalamazoo River. “The outlook for the clean-up remains hopeful although it illustrates the similarities between energy-hungry giants like China and the U.S. and college binge drinkers; there are very few societal consequences for overindulgence,” Zpryme Sr. Researcher Janelle Downing said in a statement to Intelligent Communications Partners Jon Arnold.
There is a silver lining; both the U.S. and world’s largest automotive market, China will lead in the future of electric vehicles (EV). Just this week Nissan’s electric rival, GM, announced it will launch the Chevy Volt and Enterprise Rent-A-Car confirmed 500 Nissan LEAFs on order (both will be available by year’s end). Other companies have followed suit; Ford, Volkswagen, CODA, Toyota, BMW, and Honda announced that they will be releasing EVs within the next couple years in the U.S. In comparison, first-mover-advantage will be experienced by GM (partnered with SAIC Motor Corp.), Nissan, CODA, Geely, Chery, and BYD that will capture the largest EV marketshare in China for the next several years. Even U.S. consumer electronics retailer Best Buy will enter the EV game by not only providing parking lots with chargers, but also selling products such as ECOtality's Blink charger and outfitting its group of IT associates (Geek Squad) with a vehicle fleet of Mitsubishi I-MiEVs.
With the electric vehicle industry just volts away from plugging into the U.S. and China mainstream, the automotive major players are already executing dialog on the next generation of auto that will allow consumers to sell energy back to the grid. Vehicle-to-Grid (V2G) technology is the “Smart Grid” solution for the automobile sector by allowing vehicles to connect, communicate, and sell demand services to the grid. In the ZigBee Alliance sponsored V2G Report by Zpryme from 2015 to 2020, the China V2G vehicle market value is projected to grow from $0.4 billion to $6.5 billion. While from 2015 to 2020, the US V2G vehicle market value is projected to grow from $1.1 billion to $8.1 billion. Globally the global V2G vehicle market value from 2015 to 2020 is projected to grow from $3.2 billion to $26.6 billion, respectively.
With President Barack Obama calling for one million plug-in electric vehicles on the roads by 2015 and experts also predicting close to a million in China by 2015 (in a report co-issued by the State Council, the Society of Automotive Engineers and Volkswagen China) V2G will soon enough find its niche in both the automotive and Smart Grid ecosystem.
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