A new report from the consulting firm PricewaterhouseCoopers found that battery operated vehicles are the most profitable segment of the auto industry.
According to the firm, the battery operated vehicle segment, which includes all passenger cars and light trucks, has the lowest revenue per vehicle.
That compares with the $1.6 billion the battery powered vehicle segment earned in 2014, according to the company.
In addition, the report shows that the battery electric vehicle segment had the largest revenue growth.
The report also found that the number of battery powered cars sold in the United States rose by 20 percent from 2013 to 2014, while the number sold in Europe and Japan rose by more than 80 percent.
The automotive industry is currently undergoing a major transformation with the arrival of battery-powered cars like the Chevy Bolt, which was unveiled in late 2017.
The Bolt is the most affordable car to date that can be driven entirely on the electric power of the battery pack.