China and the United States have the best potential for healthy sales of electric vehicles, according to research by the global professional services company Accenture.
Looking at technological, economic and political factors, nine other markets are also worth investing in this technology, Accenture said.
Accenture analyzed Britain, Brazil, Canada, China, France, Germany, India, Japan, the Netherlands, Norway, Russia, South Korea, Sweden and the United States, looking for crucial distinctions in their electric vehicle markets.
China and the US ranked top because of the size and growth of their markets. Car makers should target China and the US for investment and adapt product portfolios to cater to specific customer preferences in each country, Accenture said. Factors in ranking markets included numbers of buyers who could eventually afford electric vehicles and the development of extensive charging infrastructure.
All markets were analyzed for factors including governmental regulations and subsidies, as well as non-market-specific factors, such as vehicle range and charge time.
Britain, Canada, France, Germany, Japan, the Netherlands, Norway, South Korea and Sweden were said to have great potential because of their being small markets now but having the prospect for robust growth between now and 2020. In addition, governments in these countries plan to invest significantly to make electric vehicles more attractive, Accenture said.