![]() While impressive, this is still well short of the 60% share needed by 2030 to align with a trajectory that would reach net zero CO 2 emissions by 2050. The IEA Announced Pledges Scenario (APS), which is based on existing climate-focused policy pledges and announcements, presumes that EVs represent more than 30% of vehicles sold globally in 2030 across all modes (excluding two- and three-wheelers). But in the longer term, government and corporate efforts to electrify transport are providing a solid basis for further growth in EV sales. In the near future, EV delivery delays to customers may dampen sales growth in some markets. The Covid-19 pandemic and Russia’s war in Ukraine have disrupted global supply chains, and the car industry has been heavily impacted. However, EV sales doubled in a number of regions in 2021 – including in India– which could pave the way for quicker market uptake by 2030 if supporting investments and policies are in place.Įlectric car sales continue to break records, but mineral supply constraints are looming In Brazil, India and Indonesia, fewer than 0.5% of car sales are electric. The speed of charging infrastructure roll-out in China is faster than in most other regions.īy contrast, EV sales are still lagging in other emerging and developing economies, where the few models that are available remain unaffordable for mass-market consumers. Electric two- and three-wheeler vehicles now account for half of China’s sales. China accounts for 95% of new registrations of electric two- and three-wheeler vehicles and 90% of new electric bus and truck registrations worldwide. In 2021, the sales-weighted median price of EVs in China was only 10% more than that of conventional offerings, compared with 45-50% on average in other major markets. This, alongside lower development and manufacturing costs, has contributed to decreasing the price gap with conventional cars. ![]() In China, electric cars are typically smaller than in other markets. The first quarter of 2022 showed similar trends, with sales in China more than doubling compared with the first quarter of 2021 (accounting for most of global growth), a 60% increase in the United States and a 25% increase in Europe. Sales in Europe showed continued robust growth (up 65% to 2.3 million) after the 2020 boom, and they increased in the United States as well (to 630 000) after two years of decline. More vehicles were sold in China in 2021 (3.3 million) than in the entire world in 2020. The increase in EV sales in 2021 was primarily led by the People’s Republic of China (“China”), which accounted for half of the growth. The number of EV models available on the market is around 450. Finally, five times more new EV models were available in 2021 than in 2015, increasing the attractiveness for consumers. Meanwhile, many carmakers have plans to electrify their fleets that go further than policy targets. A growing number of countries have pledged to phase out internal combustion engines or have ambitious vehicle electrification targets for the coming decades. Public spending on subsidies and incentives for EVs nearly doubled in 2021 to nearly USD 30 billion. Sustained policy support is the main pillar. ![]() The success of EVs is being driven by multiple factors. Global sales of electric cars have kept rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021. This brought the total number of electric cars on the world’s roads to about 16.5 million, triple the amount in 2018. ![]() Nearly 10% of global car sales were electric in 2021, four times the market share in 2019. In 2021, more than that many are sold each week. Back in 2012, just 120 000 electric cars were sold worldwide. Sales of electric vehicles (EVs) doubled in 2021 from the previous year to a new record of 6.6 million. Few areas in the world of clean energy are as dynamic as the electric car market. ![]()
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