Electric car sales boom

MAY 04, 2021
They estimate that up to 230 million units could be sold in the next 10 years.

Rome - Electric cars are going full steam ahead in the global market, with a 41% growth by 2020 and three million new vehicles sold, contrary to the global automotive industry, which suffered a 16% contraction.

In the next ten years, according to industry sources, "green" vehicles could see a boom in sales: 145 million (excluding two- and three-wheelers), equivalent to 7% of the fleet on the road, if current policies remain unchanged.

However, that number could rise to 230 million (12% of the global share) "if governments accelerate efforts on climate change, or if they commit to zero harmful emissions by 2050.

The forecast on the progress of the electric car market is from the International Energy Agency (IEA), contained in the report "Global Electric Vehicle Outlook 2021".

According to the intergovernmental organization, which deals with energy policies, the electric car fleet in circulation was ten million by the end of 2020, plus one million between vans and buses.

For the first time, Europe with 1.4 million patents (doubled in 2019) and surpassed China, which recorded 1.2 million (+9%), so that the Old Continent became the center of the global electric car market.

In the first quarter of this year, explains the IEA, the sector's momentum continued with sales up 140% compared to the same period in 2020 (500,000 in China and 450,000 in Europe. Electric cars, despite the need for new and more efficient charging infrastructure and more powerful batteries, like, even without state subsidies, noted the IEA.

And indeed in 2020 consumer spending increased by another 50%, reaching $120 billion, recalled the

Agency, noting that at the same time government incentives-erogated for the fifth consecutive year-reached $14 billion, down as a share of total spending.

For their part, automakers offered 370 electric car models in 2020, with an increase of 40% on an annual basis, explained the IEA, adding that 18 of the 20 largest producers - which represent 90% of world car sales - announced their intention to increase the number of models and production of light vehicles.

The Global Electric Vehicle Outlook 2021 recalls that the most common electric vehicles on the road are mopeds or motorcycles, with more than 25 million units sold, mostly in Asia.

Electrified city buses are also spreading rapidly, while heavy-duty vehicles have only recently been gaining ground, thanks to improved battery performance.

Source: Ambito

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