Research and Markets: Tesla Announce Battery Profits, Will Unveil New Electric Vehicle in March

Feb 11, 2016, 12:15 ET from Research and Markets

DUBLIN, Ireland, February 11, 2016 /PRNewswire/ --

The electric vehicle market in the United States is estimated to grow at a CAGR of 24.02% over the period 2015-2019 , according to a new report published on Research and Markets. State governments are providing various incentives and rebates to customers and businesses, which had led to rapid growth in the market.

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Tesla Motors' CEO Elon Musk has taken to his Twitter to break the news that reservations for the company's Model 3 will begin on 31 March. He confirmed that the car will have a starting price of about $35,000, likely to be reduced by EV subsidies, and will require a $1,000 deposit.

Another report on the Global Hybrid Electric Vehicles (HEVs) Market has predicted growth at a CAGR of 10.53% during the same period. HEVs are increasingly being equipped with features that consume a substantial amount of battery power. As a result, there is increased need for efficient and durable rechargeable batteries, which has led to a growth in the use of Li-ion batteries in HEVs.

Musk also announced that Tesla's battery division had turned a profit in its first quarter shipping Powerwall and Powerpack batteries.

The Global Wireless Charging Market report predicts the market will grow at an impressive CAGR of more than 33% by 2020. It says the market is likely to grow significantly in the future because of certain emerging trends. It highlights the increased adoption of wireless EV charging, which necessitates wireless technology. The high growth potential of wireless charging has compelled many automobile companies to implement wireless charging systems for EVs and plug-in hybrid electric vehicles (PHEVs).

For further information on this topic, and a full list of all related documentation, please visit the Telematics and Vehicle Electronics section of

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Source: Forbes

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