The strongest year-on-year growth in the first quarter, albeit from a low base, was posted in Japan. Clean car fever is at the forefront of the Asian nations’ bid to regain its crown for technological excellence after losing ground to global competitors in computers and electronics.
Prime Minister Shinzo Abe led the way by offering generous subsidies to residents of Tokyo and spending billions of public money on constructing filling stations across the country. French industrial gas company Air Liquide (FR:AI) was one of the companies commissioned to build 100 hydrogen stations along the main thoroughfares of Tokyo, Fukuoka, Nagoya and Osaka last year.
Interestingly, Japan’s Nissan (JP:7201) currently holds the biggest market share of the global electric vehicle market. Amid damaging claims that its conventional cars were fitted with defeat devices similar to those that got Volkswagen (DE:VOW3) into hot water, the manufacturer’s cleaner Leaf model has taken the world by storm.
Across the pond, US sales reached a 13,475 high in March. This was fuelled by the roll-out of the upgraded Chevrolet Volt and record sales of the Tesla S, the second most popular electric vehicle in the globe.
With most of the world’s biggest car brands now in the business of developing flashy electric cars, and governments keen to assist by financially rewarding those converting to cleaner technology, industry expects another blockbuster year ahead.
