Emerging Low Speed Electric Vehicle Market
Vehicle technologies that are practical and are emerging are low speed electric vehicles. These vehicles provide a practical solution that offers a convenient and cost-effective solution in areas where petroleum is limited or inconvenient. LSEV’s are becoming mainstream in urban China and India. Although the technology is relatively new, and there are some adoption barriers, LSEV continues to grow.
“Despite absence of industry standards and of the basis for running on the road, low-speed electric vehicle (LSEV) still enjoys a huge market in rural and periurban areas because of mobility and low use costs. It takes less than a decade for the LSEV industry in China to grow from infancy and take shape. The Standardization Administration of the People’s Republic of China showed the intention to adopt stricter standards and meanwhile the State Council defined the guideline of “upgrading a batch, regulating a batch, and eliminating a batch” last year. Even so, LSEV output still soared from 688,000 units in 2015 to 1.232 million units in 2016, an upsurge of 79.1% year on year.”
– Research and Markets, September 05, 2017
Even though lightweight feature of lithium-ion batteries are attractive, lead acid batteries dominate the LSEV market place. It’s simple, when it comes to satisfying consumers needs, lead has the practical advantage in availability, SAFETY, recyclability and mostly COST! 95% of the current LSEV’s are using a lead battery. When the average selling price of a LSEV is $2000 to $6000 it is difficult to have an expensive lithium battery pack.
More than just mobility… “In China, there are 340 million people (who) daily commute with e-scooters, but there is a strong demand for them to upgrade to something, but we cannot imagine all of them driving cars, so we want to give them something else, which is an ultra-compact car,” Shen told CNBC.
GreenSeal® Batteries deliver the advantage in the lead industry as well.
- Comparable AGM Battery – 0.479 cu ft/battery
- GreenSeal – 0.445 cu ft/battery 7% decrease and shape can be specified (not block)
- Comparable AGM Battery – 31 kg
- Green Seal -23 kg (approx. 24% decrease)… 56 kg/vehicle (3% vehicle weight decrease)
- Dynamic Charge Acceptance – 50% Improved