|Future Trends in Luxury Electric Vehicle Market in North America and Europe, 2016–2025|
|Evolving Dynamics in the Luxury EV Space will Push OEMs to Look into Innovative Integration of Services and Experience as a Revenue Stream in the Future|
Stringent emission regulations have pushed luxury OEMs to electrify their offerings to adhere to the standards. Although battery electric vehicles and plug-in hybrids are being touted as sustainable alternative transportation solutions, low adoption can be attributed to lack of consumer awareness and common misconceptions about electric range and e-technology. While a set of tech savvy consumers and green environmentalists are the early adopters, OEMs need to offer more than a product to attract consumers across varying demographic segments. Moreover, the luxury space is evolving more rapidly than its internal-engine powered counterpart owing to the influential impact of the ACEC trend.
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