IDTechX Predicts Sales of Light Electric Vehicles Will Reach 130 Million Before 2025
Once again we present an outlook on light electric vehicle (LEV) sales.
Since this LEV category is something we seldom cover here at InsideEVs, we’ll start by saying that LEVs include electric bicycles, electric scooters, some electric motorcycles and electric trikes. LEVs are loosely defined as any “land vehicle propelled by an electric motor that uses an energy storage device such as a battery or fuel cell, has two or three wheels, and typically weighs less than 100kg,” says IDTechEx.
IDTechEx predicts that sales of LEVs will reach 130 million prior to 2025. That’s not a cumulative figure, but rather an annual volume amount. So, what IDTechEx is saying is that annual sales of LEVs will hit 130 million globally before 2025.
Of course, LEVs account for the vast majority of EV sales, but we don’t include them in the automobile category.
LEVs sell in the highest volumes in Asian countries, particularly in China. Europe and Japan have substantial LEV sales too. On the other hand, sales of LEVs in the US are extremely limited.
China is by far the world’s leading producer of LEVs, with some 50 brands manufacturing vehicles that fit this category within China alone.
Most LEVs can be driven without a driver’s license in most countries around the globe, which is a big reason they sell in volume. Additionally, LEVs are cheap to buy and close to free to operate, especially since most don’t require insurance.