IEA: EV targets falling flat

Plans by major vehicle manufacturers for electric and plug-in hybrid electric vehicles are far below sales targets set by national governments, the IEA said. The International Energy Agency said mass deployment of alternative vehicles would reduce greenhouse gas emissions and cut the use of petroleum products. Lew Fulton, a transport analyst at the IEA, said electric vehicles are a way to boost energy security while offering an affordable alternative to conventional fuels. "Most major auto manufacturers have announced their electric vehicles and/or plug-in hybrid production plans, which add up to 0.9 million units by 2015 and about 1.4 million units per year by 2020," he said in a statement. "However, it is well below existing national sales targets of about 1.5 million in 2015 and 7 million in 2020." The IEA said global targets for electric vehicles represent only a fraction of the 1 billion cars expected on the roads by 2020, however. The agency in a May report found that energy consumption in electric motor-driven systems makes up about 19 percent of the global electricity demand, eclipsing the electricity used for lighting.