Electric Car News Roundup – 36

electric car news

Petrol And Diesel SUV’s Outsell Electric Cars As EV Market Stands At Just One Percent 


Electric car sales are still only a fraction of gas-guzzling petrol and diesel SUV’s in a major concern for EV manufacturers.  Electric cars make up only one percent of new car sales as large SUV’s are found to outsell electric vehicles by 37 to 1 in a stunning reveal.

The All-Electric Porsche Taycan
The All-Electric Porsche Taycan (credit: Porsche)

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We find this article incorrect at many levels.  The claim that the ‘EV market stands at just one percent’ is absolutely false.  According to the SMMT, as of end November 2019, battery-electric vehicles (BEVs) had a market share of 1.5%, a significant increase from a year ago.  The 1.5% market share does not include the sale of plug-in hybrid vehicles (PHEVs), which are also electric vehicles.  In fact, nearly 40,000 PHEVs were sold in 2019 by end November. 

Yes internal combustion engine (ICE) vehicles outsell EVs, but the ‘real story’ is not this: a careful observation of the market share between petrol cars, diesel cars and electric vehicles paints a very different picture.  In reality, diesel cars have lost significant market share over the past few years, to include in 2019.  By end November 2019, diesel market share was down 22% for the year. Petrol was up a mere 2.2% for the same period.  However, BEVs market share was up an astounding 135.6%. 

Of course, we do hope in the near future, with the increase in model availability of all-electric SUVs, consumers are motivated to switch to zero-emission electric driving from internal combustion engine SUVs. 


Two Per Cent Taxi Fares Rise Will Take Cost Of Average Journey To £13.50


Taxi fares are set to rise next month despite a majority of passengers saying they are already too high. Transport for London is expected to approve an increase of about two per cent that will take the costs of an average black cab journey to about £13.50. Taxi chiefs insist that the rise – the first since April 2018 – is modest and a “good compromise” in return for the £180 million invested by drivers in electric cabs. About 3,000 of the £60,000 “green” vehicles are now operating in London. 

LEVC electric taxi
The LEVC Electric Taxi

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We at e-zoomed certainly applaud the efforts of various stakeholders responsible for the introduction of electric cabs in London.  However, increasing the cost of taxis, even by a modest amount, is a shortsighted strategy.  

Both the government and the private sector need to commit to reducing the cost of public transportation with greater ambition. Individuals and families should be encouraged to use various forms of public transportation and discouraged to own vehicles.  By reducing the number of private vehicles in densely populated cities across the UK, communities will benefit from lower levels of air pollution and congestion.  

In many urban centers in the UK, to include London, we are already operating way beyond the infrastructure capacity, with significant detrimental consequences, in particular, air pollution.  Reducing private ownership of vehicles and encouraging sharing schemes and the use of public transportation is the key to building cities fit for the 21st century.   

Indeed, departments like TfL (Transport for London) should not only stop any further increases to the cost of using taxis, but find ways to comprehensively reduce the costs.  We at e-zoomed envision a future where use of private vehicles in populated urban areas like London is less than 10% of total transportation within the city.  We also envision that the majority of travel will be completed via public transportation, all of which are 100% electric and charged by green energy.  


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Author

Ashvin Suri

Ashvin has been involved with the renewables, energy efficiency and infrastructure sectors since 2006. He is passionate about the transition to a low-carbon economy and electric transportation. Ashvin commenced his career in 1994, working with US investment banks in New York. Post his MBA from the London Business School (1996-1998), he continued to work in investment banking at Flemings (London) and JPMorgan (London). His roles included corporate finance advisory, M&A and capital raising. He has been involved across diverse industry sectors, to include engineering, aerospace, oil & gas, airports and automotive across Asia and Europe. In 2010, he co-founded a solar development platform, for large scale ground and roof solar projects to include the UK, Italy, Germany and France. He has also advised on various renewable energy (wind and solar) utility scale projects working with global institutional investors and independent power producers (IPP’s) in the renewable energy sector. He has also advised in key international markets like India, to include advising the TVS Group, a multi-billion dollar industrial and automotive group in India. Ashvin has also advised Indian Energy, an IPP backed by Guggenheim (a US$ 165 billion fund). He has also advised AMIH, a US$ 2 billion, Singapore based group. Ashvin has also worked in the real estate and infrastructure sector, to including working with the Matrix Group (a US$ 4 billion property group in the UK) to launch one of the first few institutional real estate funds for the Indian real estate market. The fund was successfully launched with significant institutional support from the UK/ European markets. He has also advised on water infrastructure, to include advising a Swedish clean technology company in the water sector. He is also a member of the Forbury Investment Network advisory committee. He has also been involved with a number of early stage ventures.

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