Ernst & Young: EV Industry Faces Moment Of Truth

Ernst &Young makes its money giving advice and telling people what to do. The massive global accounting and consulting giant just concluded talks with the bigwigs of the electric vehicle industry in Bonn, Detroit and Beijing and they’ve got some rather bracing advice for the burgeoning electric car industry: Now is the time to get serious.

The result of Ernst and Young’s research is a report titled “The Moment of Truth for the Electric Vehicle Industry,” and in it, the firm offers plenty of straight talk and direction for those involved in the alt-fuel transportation evolution.


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According to Gil Forer, who heads up Ernst & Young Global Cleantech, “Electric cars are rolling off production lines and onto our roads and streets, with global hybridplug-in hybrid and full electric vehicle production numbers set to rise significantly over the next four years. Companies across the spectrum are working overtime and partnering to embrace the EV opportunity and overcome deployment challenges. But the dress rehearsal is over. Hard work and cross-sectoral cooperation are required to build an enduring EV industry and to ensure a positive total customer experience.”

Aside from the general wake-up call, just what does Ernst & Young suggest for the electric vehicle industry? The report’s first recommendation is for automakers to supply more vehicles, both in volume and variety. According to the report, “The EV market needs breadth and depth to move beyond early adopters and serve different market segments. For consumers, this will help to ensure that buyers can find an EV model in the class of vehicle they require and for fleet managers, this means being able to purchase the right vehicle in volumes that make economic sense.”

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