Electric Vehicles (Global Market)

Main article: Electric vehicles

Markets of countries

Electric vehicles (Russian market)

Main article: Electric vehicles (Russian market)

Electric vehicles (Ukrainian market)

Main article: Electric vehicles (Ukrainian market)

Electric cars (Belarusian market)

Main article: Electric vehicles (Belarusian market)

Electric cars in Uzbekistan

Main article: Electric vehicles (Uzbekistan market)

Electric Vehicles (China Market)

Main article: Electric vehicles (China market)

Electric Vehicles (European Market)

Main article: Electric vehicles (European market)

• Electric cars in Sweden
• Electric vehicles (Italian market)
• Electric vehicles (German market)
• Electric vehicles (Norway market)

Electric Vehicles (US Market)

Main Article: Electric Vehicles (US Market)

Electric vehicles (British market)

Main article: Electric vehicles (British market)

2023

Tesla and BYD leave European car manufacturers overboard

Europe has to reboot its auto industry.

Volkswagen, Renault and Stellantis are thinking of the unthinkable, exploring contracting with arch-rivals to produce cheaper electric cars and counter existing threats.

As Chinese rivals and Tesla Inc. expose the competitive weaknesses of Europe's biggest mass-market automakers, it's clear that the sense of urgency is growing, and the "business as usual" approach is a losing option.

Sales of electric vehicles in the world increased by 31% to 13.6 million units

In 2023, approximately 13.6 million electrified cars were sold globally, which is almost a third (31%) more than the previous year. Such data are given in the report of the London research company Rho Motion, published in early January 2024.

Analysts take into account sales of both all-electric models and hybrid machines with the ability to charge a battery pack from an electric grid. It is noted that the growth rate is slowing down. So, in 2022, sales of electrified vehicles jumped by 60% compared to 2021. At the same time, according to Rho Motion, sales in December 2023 reached a record monthly level of about 1.5 million units.

According to Rho Motion estimates, fully electric cars accounted for 9.5 million in the total volume of electrified vehicles sold in 2023. Another 4.1 million were hybrids. Sales of electric vehicles jumped 50% in the United States and Canada, while in Europe and China growth was at 27% and 15%, respectively.

Some automakers fear that sales of electric vehicles in Europe and other countries could slow down for a number of reasons. Many potential consumers prefer to postpone the purchase, waiting for the appearance of better and less expensive models. Sales in Europe could be affected by Germany's decision to scrap subsidies for electric vehicles. Against this background, automakers are accelerating localization efforts to stimulate consumer demand in a particular region or market. In parallel, further expansion of the charging infrastructure is being carried out. In addition, an ecosystem of intelligent services is developing.^[1]

The share of electric cars in the world in 3 years has grown 5 times. Norway, Iceland and Denmark lead in penetration

In 2020, only one out of every 25 cars sold in the world was equipped with an electric power plant, while in 2023 this figure reached one in five. Thus, in three years, the demand for electric vehicles on a global scale increased fivefold. Such data are provided in a report by the International Energy Agency (IEA), released on October 23, 2023.

Demand for electrified vehicles continues to grow rapidly. This is explained by the emergence of a new clean energy economy, as well as the desire of companies to reduce emissions of harmful gases into the atmosphere. According to Canalys estimates, global sales of electrified machines, including fully electric models and hybrids with the ability to charge from the electric network, in the first half of 2023 jumped by 49% compared to the same period last year - up to 6.2 million units. The IEA report says that by 2030 there will be almost 10 times more electric vehicles on the roads of the world than in 2023.

The researchers also point to the transformation of the global energy industry. In 2030, solar farms on a global scale are estimated to generate more electricity than the entire U.S. power grid produces as of 2023. In general, the share of renewable energy sources in the global energy balance will reach almost 50% in 2030, compared with about 30% in 2023.

By 2030, renewables will provide approximately 80% of new electricity capacity, with solar stations alone accounting for more than half of that growth. IEA analysts believe that 500 GW of solar energy will be deployed in the world by 2030. At the same time, the consumption of fossil fuels (natural gas, coal and oil) in the global energy supply will decrease from 80% in 2023 to 73% in 2030.^[2]

China produces more than 50% of the world's electric vehicles

What to expect in the electric vehicle market in the coming years

According to analysts, Gartner the global electric vehicle market is facing a serious transformation due to a number of factors, including the current geopolitical and macroeconomic situation. Experts cited their conclusions in a report published on March 9, 2023.

Gartner notes that the jump in energy prices To Europe in makes operating costs for vehicles powered solely by batteries less attractive. Some countries, such as, and Great Britain, are Switzerland Australia starting to introduce taxation of electric vehicles. In addition, China it stopped subsidizing such machines in early 2023. There are problems with the development of the global charging infrastructure, and the quality of service for owners of electric cars leaves much to be desired. The negative impact on the industry also has a sharp increase in prices for raw materials, in particular lithium and nickel. All this leads to both an increase in the cost of electric vehicles themselves and an increase in the cost of maintaining them.

As a result, as noted, the growth rate of sales of electric cars may slow down, and in some regions it will completely subside. Analysts emphasize that a few years after the outbreak of the COVID-19 pandemic, automakers still cannot predict the end of the shortage of semiconductor chips. In addition, market participants continue to experience difficulties purchasing materials for key components of electric vehicles, including batteries.

As the challenging economic situation slowly moves the auto market from limited supply to limited demand, automakers and retailers are refocusing on developing online sales. This concept will reduce costs, "said Pedro Pacheco, vice president of analytics at Gartner.

On the other hand, a period of decline will give automotive companies the opportunity to increase their market share by introducing advanced IT technologies. For example, several major automakers are trying to transform into technology companies, but their corporate culture is a serious obstacle to such plans.

Gartner expects more than 50% of electric vehicles sold worldwide to be supplied by Chinese brands by 2026. As of early 2023, more than 15 Chinese companies offered electric models, many of which are much cheaper than cars of foreign competitors. In addition, Chinese manufacturers show higher growth rates in the corresponding segment than such large and well-known corporations as General Motors, Volkswagen and Tesla.

It is said that Chinese developers have great growth potential due to good access to the main raw materials and production capacity for the production of batteries. Therefore, Gartner experts recommend that the Chief information officers of automotive enterprises that have focused on electric vehicles integrate supply chain planning and transparency software to make better business decisions and achieve production stability.

Gartner estimates the tech giants will own at least some of the operating systems components for 95% of new vehicles by 2025. Moreover, companies such as Foxconn, Huawei, Alibaba, Xiaomi, Tencent and Sony will be directly involved in the development, production and sale of machines.^[3]

2022

The sales of electric buses, trucks and vans in the world for the year are calculated

At the end of 2022, 11.49 million electrified vehicles were sold globally, and in the future, this market is expected to grow steadily. This is stated in a study by Gartner, the results of which were released on September 7, 2023.

Both all-electric cars (BEVs) and machines equipped with a hybrid power plant with the ability to charge a battery pack from an electric network (PHEV) are taken into consideration. Analysts divide all electrified vehicles into four categories: cars, buses, vans and heavy trucks.

According to estimates, in 2022, cars accounted for approximately 11.13 million units in the total sales of electrified vehicles. Another 198.73 thousand units were buses, approximately 137.67 thousand units - vans. Heavy trucks accounted for about 22.6 thousand.

Gartner reports that global deliveries of BEV models will rise from 9 million units in 2022 to 11 million units by the end of 2023. At the same time, the PHEV segment also demonstrates growth - from 3 million units in 2022 to 4 million units in 2023.

PHEV's share of total electrified vehicles in countries such as the United States, Canada and Japan will rise slightly as consumers here prefer hybrid vehicles. So, car owners in the United States choose PHEV instead of BEV, because hybrid cars combine the ability to provide emissions-free driving in urban conditions with the convenience of a gasoline engine for long-distance trips. At the same time, there is a different picture in Western Europe, China and India: here buyers prefer all-electric cars due to their lower operating costs, quiet movement and environmental friendliness, "said Jonathan Davenport, Senior Director-Analyst at Gartner.

By the end of 2023, the total sales of electrified vehicles, according to Gartner estimates, will reach 15.43 million. Of these, passenger cars will amount to 14.98 million units. Sales of buses, vans and heavy trucks are estimated at 202.73 thousand, 218.34 thousand and 30.16 thousand, respectively. In 2024, analysts believe that the total sales of electrified vehicles will be at the level of 17.86 million, that is, they will increase by 19% compared to the previous year. At the same time, shipments of passenger models, buses, vans and heavy trucks are estimated at 17.86 million, 207.85 thousand, 349.95 thousand and 39.35 thousand units, respectively.

Initiatives by governments to reduce emissions of harmful substances into the atmosphere lead to a change in the business model of automakers. Some companies aim to completely convert new light vehicles to electric traction by 2035, while others intend to reach the level of sales of electric vehicles at the level of 40-50% of the annual sales of cars by 2030. In addition, the growing importance of electric vehicles contributes to the emergence of new brands in the corresponding segment.

Gartner analysts expect the average price of electric vehicles to reach parity with similar-class machines equipped with a traditional internal combustion engine by 2027. And this will further increase the growth rate of sales of BEV models. However, by 2030, power generation and grid constraints could be factors holding back mass adoption of electric vehicles, regardless of their price. Therefore, it is necessary to take measures that stimulate owners of electric vehicles to charge batteries outside the peak hours of energy consumption.^[4]

10.2 million electric vehicles sold in the world, of which 5.9 million in China

In 2022, 10.2 million electric cars of various types and modifications were sold worldwide (100 times more than in 2012), of which 5.9 million in China, 2.6 million in Europe (with the exception of Russia and the CIS countries), almost 1 million in the USA, 131 thousand in South Korea and about 100 thousand in Japan. Over 95% of all electric cars sold in the world are in the above countries and regions.

10.2 million cars per year - this is 14% of all sold cars compared to 8.7% in 2021, 4.2% in 2020, 1.4% in 2017, 0.7% in 2015 and 0.2% in 2012.

According to the plans of leading automakers and according to IEA forecasts, in 2025 almost a quarter of all cars sold in the world will be electric cars, and in 2030 - 41%.

At the same time, 2/3 of electric cars in the structure of total sales will be sold in Europe in 2030, and at least 75% in Western European countries.

The United States was the first to introduce the standard of "electrification of cars" in mass use, where Tesla became the flagship. 10 years ago, almost half of all electric cars sold in the world were sold in the United States, now less than 10%.

On the contrary, Europe is accelerating and there is a logical explanation here. The availability of energy (primarily fuel) in Europe is not stable, especially in the context of the energy crisis in 2022, and prices are significantly higher than in the United States. In terms of 100 km of car use, the cost of servicing electric cars in Europe is significantly lower than with an internal combustion engine (ICE).

Plus the actively lobbied green agenda, which "entered the absolute" and was greatly strengthened in 2022, so the transition to carbon neutrality is not stopped, but accelerated, especially in Europe.

China follows a similar path, but given the specifics of the energy balance, the emphasis is on road transport, while power and industry are actively "smoking."

What is transport electrification? According to very rough estimates, the current fleet of "electric trains" deducts about 0.6-0.7 million barrels of oil from world demand every day, by 2030 - closer to 3.5 million barrels/d, the Spydell Finance channel wrote.

Top 3 electric car manufacturers take 36% of the market

At the end of 2022, sales of electric vehicles on a global scale reached almost 11 million units. Moreover, more than a third of the world market - approximately 36% - was occupied by three manufacturers. This is stated in the IDC study, the results of which were published on May 26, 2023.

It is noted that in 2022, the penetration of cars with an electric power plant around the world reached 14%. Almost 7 million electric cars were sold in China, and the penetration rate here is significantly higher than the industry average - 31.3%. The growth of sales of electric vehicles in China is facilitated by high oil prices, government subsidies, promotions of automotive companies and stabilized supplies of electronic components.

The world's leading electric car manufacturers include BYD, Tesla and SAIC-GM Wuling: in 2022, their total share was 36.11% in total sales. If we consider only the Chinese market, it is led by BYD, SAIC and Tesla, which accounted for a total of 53% of electric car sales. It is noted that in China, local brands dominate the list of the ten largest manufacturers of electric machines. The exception is the American Tesla, which ranks third with a share of about 10.3% in 2022.

Overall, China's share of global electric vehicle sales reached 63.6% in 2022. Europe is in second place with an indicator of about 24%. Then come the US with 9.2%. All other regions combined accounted for only 3.2% of the total number of electric cars sold. IDC analysts say that the rapid growth of the market for such cars is due not only to the desire of manufacturers for electrification, but also to the introduction of autopilot tools, as well as the development of related Internet services.^[5]

Every second electric car in the world sold in China

In 2022, approximately 10.1 million electrified cars were delivered worldwide, an increase of 55% compared to the previous year. Moreover, more than half of the total sales were in China. Such data are provided in a study by Canalys, the results of which were released on March 15, 2023.

Analysts assess shipments of all-electric machines (BEVs), as well as hybrids with the ability to connect to the electric network for charging batteries (PHEVs). At the same time, conventional hybrid models and vehicles with a fuel cell power plant are not taken into consideration.

According to Canalys, in 2022, about 5.9 million electrified machines were sold in the PRC - 59% of the total number on a global scale. In other words, every second such car in the world has been sold in China. This accounts for 29% of all passenger vehicles delivered in the region during 2022.

For comparison: in 2021, the share of electrified models in the Chinese market was 15%. Analysts note that China has broken away from other regions in terms of sales of electric vehicles.

Buyers are spoiled for choice. From low-cost city cars to luxury cars, electric cars are in every price bracket and in every car segment. Most Chinese automakers, including BYD, NIO and Xpeng, expanded the lineup in 2022. They're investing heavily in performance improvements and developing new vehicles to meet growing demand, said Jason Low, lead analyst at Canalys in Shanghai.

Canalys statistics are confirmed by Counterpoint Technology Market Research. According to her estimates, sales of passenger electrified cars in China almost doubled in 2022, an increase of 87% compared to 2021. In total, more than 94 brands offer over 300 electric models at prices ranging from $5,000 to $90,000. Local suppliers control 81% of the electric vehicle market: they include BYD, Wuling, Chery, Changan and GAC. China also has many EV start-ups, such as Nio, Xpeng, Neta, AITO, IM Motors, Zeeker, Aiways and Livan.

In 2022, BYD led the Chinese electrified vehicle market. It is followed by GM Group, Tesla, Geely Holding and GAC Group. In general, the 10 most popular models accounted for almost 45% of the total sales of electrified cars, which is 3% less than in 2021. At the same time, six of the 10 most popular electric cars on the Chinese market in 2022 were released by the BYD brand. That company increased its local market share by more than 11% year-on-year. Sales of electric vehicles in China will exceed 8 million units in 2023, experts say.

Canalys also notes that Europe became the second largest electric vehicle market in the world in 2022. Electrified cars here occupied 23% of the total supplies against 20% in 2021. It is noted that consumer demand is distributed between many brands, and not a single model of an electric car has occupied more than 6% of the European market. In the United States, electrified vehicles accounted for about 9% of all passenger vehicle sales in 2022. In the list of the most popular models, the first two places went to Tesla. Elon Musk's company accounted for more than 50% of electric vehicle sales in the American market. In third position is Ford with its Mustang Mach-E crossover. The largest growth in sales of electrified cars in 2022 was recorded in Japan - approximately 119%.^[6]

Market growth by 65% to 10.2 million units

In 2022, global sales of passenger cars equipped with an electrified power plant reached 10.2 million units. This is 65% more than the result for the previous year, as stated in the report of Counterpoint Technology Market Research, published on March 9, 2023.

All-electric cars (BEV), as well as hybrid models equipped with a battery pack with the ability to charge from the electric network (Plug-in Hybrid EV, PHEV) are taken into consideration. Deliveries of conventional hybrids and fuel cell vehicles are not accounted for.

It is noted that at the end of 2022, cars of these types accounted for approximately 14% of the total sales of passenger cars on a global scale. For comparison: a year earlier, this figure was 9%. By the end of 2022, seven of the world's ten best-selling electrified cars were supplied by Chinese brands. If we consider the segment of fully electric cars, then Tesla remains the leader in it.

The leader of the global market for electrified cars in 2022 was the Chinese BYD Auto: this company sold more than 1.8 million cars in the segments under consideration. By the end of 2022, supply growth on an annualized basis amounted to about 153%, and the share reached about 20%. The three best-selling BYD models - Song, Qin and Han - accounted for more than 55% of sales. At the same time, the company sold more PHEV models than BEV. In 2022, exports amounted to more than 33 thousand units. In 2023, BYD will enter several European markets, which will increase the supply of electrified machines.

In second place in the ranking of leading suppliers in 2022 is Tesla, which shipped approximately 1.3 million vehicles. By the end of 2022, sales of Elon Musk's company grew by more than 31% on an annualized basis, while the share on a global scale was about 12%. Counterpoint notes that the result would have been greater if not for the restrictions in China associated with the COVID-19 pandemic. Tesla's Model Y became the company's best-selling model in the European market in late 2022.

Volkswagen closes the top three: sales of electrified cars of the group by the end of 2022 rose by 23% compared to 2021, which made it possible to occupy 4% of the world market. The most popular models were the VW ID.4 crossover, the VW ID.3 hatchback and the VW ID.5 cross-coupe. Volkswagen expects electric vehicles to account for approximately 25% of its sales by 2026.

On the fourth line in the ranking is another Chinese manufacturer - Wuling with its popular Hongguang Mini EV electric car. At the end of 2022, the demand for electrified Wuling machines rose by 27% compared to 2021, and the company occupied about 4% of the global industry.

The Bavarian automaker BMW Group closes the top five, the demand for products of which soared by 42% by the end of 2022: the company holds approximately 4% of the corresponding segment. At the end of 2022, BMW was able to sell more than 360 thousand cars equipped with an electrified power plant. Moreover, PHEV models accounted for almost 54% of sales. In the BEV segment, BMW i4, BMW iX3 and BMW iX became the most popular electric cars.

The total share of all other suppliers of electrified passenger cars at the end of 2022 amounted to about 56%. According to Counterpoint estimates, at the end of 2023, shipments of such machines on a global scale will be at the level of 17 million units.^[7]

The leading countries in the share of electric vehicles

Electrification of road transport is actively ongoing. Over the past 10 years, the operating fleet of electric cars of all types worldwide has increased almost 140 times to 25.9 million cars (accumulated sales minus write-offs and/or car disposal) based on data from IEA.

At the forefront 10 years ago were the United States and Japan, which held over 60% of the world market, where the US share reached 44%, and now these two countries form only 13% of the world electric car fleet, where the United States - 11.5% and Japan - 1.5%.

The most significant progress in China, which 10 years ago formed 8% of the world market, and now almost 55%! Of the 25.9 million cars that are potentially active at the beginning of 2023, China has 14.1 million electric cars.

In 2022, China, Europe (with the exception of Russia and the CIS countries), the USA, Japan and South Korea form 99% of the global electric car market. Here, in fact, these 5 countries/regions set the agenda in the context of electric cars and are the flagships of the development of industry, technology and determine the vector of development.

Europe maintains a fairly stable share of about 30%, i.e. increases sales at global rates, where these rates are no longer dictated by the United States and Japan, but by China.

To Europe There are autots with an internal combustion engine (ICE) on the trajectory of complete replacement, and Norway, Sweden Denmark which almost all new sales sell in electric, cars having the most developed charging infrastructure.

Switzerland and Finland have been following an exponential trajectory since 2017-2018, as in the other main core of Europe (Britain, Germany, France and Italy), but in large countries the ICE fleet is still significant and it may take another 10 years until the dominant replacement (over 50% of the fleet).

In 2015, electric cars in the world occupied no more than 0.1% of the global fleet, in 2020 - 0.8%, in 2022 - 2.1%, by 2025 the share can grow to 6%, and by 2030 - 15%.

Given the plans of the leading automakers to refuse to improve the ICE and the gradual refusal to produce cars with ICE from 2025, this trend cannot be ignored, Spydell Finance wrote.

One in ten cars sold in the world is an electric car

In mid-January 2023, data from LMC Automotive and EV-Volumes.com on the volume of sales of electric vehicles on a global scale were released. It is reported that in 2022 the supply of such machines reached a record value of 10% of the total automotive market.

It is estimated that 7.8 million electric vehicles were sold worldwide in 2022. This is 68% more than in 2021. Thus, approximately every tenth sold machine was an electric car. Europe and China are leading, where electric vehicles account for 11% and 19% of total car sales, respectively. In the United States, shipments of electric vehicles in 2022 amounted to 807,180 units, which is 2.6% more than in 2021. The share of electric vehicles in the American market is 5.8%, which is significantly lower compared to European countries and the PRC.

According to the Automotive Management Center (CAM), Tesla took first place in the global ranking of manufacturers of all-electric cars in 2022. This is followed by Chinese companies BYD and SAIC Motor, as well as brands owned by the Volkswagen group.

In 2022, every fourth car we sold in China had an electrical connection, and in 2023 it will be every third car. We have not yet reached a turning point, but we expect to do so between 2025 and 2030, "The Wall Street Journal quoted Ralph Brandstätter, head of the Chinese division of Volkswagen AG.

Sales of new cars overall fell about 1% in 2022, to 80.6 million units, according to LMC data. This is due to the difficult macroeconomic situation, high inflation and market uncertainties. At the same time, an increase of almost 4% in China helped compensate for a decrease of 8% in the United States and 7% in Europe.^[8]

Electric vehicle and plug-in hybrid sales forecast of $383 billion

Chinese company becomes world's largest electric car maker for first time

On July 3, 2022, it became known that the Chinese company BYD was ahead of Tesla for the first time and became the world's largest manufacturer of electric vehicles. The relevant data is contained in the materials that BYD transferred to the Hong Kong Stock Exchange.

BYD sold 641,350 electric vehicles in the first half of 2022, up 314.9% from the first half of 2021. Of those sales, 323,519 were battery electric vehicles. By comparison, Tesla delivered 564,743 vehicles in the first two quarters of 2022, but it crashed in the second quarter as a lockdown in Shanghai slowed production at the Gigafactory plant.

In March 2022, BYD announced that in the future they will be engaged in the production of new energy cars, which include full-fledged electric vehicles, plug-in hybrid cars and fuel cell cars. At the same time, the company assured its buyers, who had previously purchased its cars with ICE engines, that the production of spare parts and maintenance would continue until the end of the life cycle of cars.

From January to early July 2022, BYD shares rose 36% in price, and the automaker's market capitalization approached one trillion Chinese yuan, which corresponds to about $149 billion. Beijing's call for citizens to reduce their carbon dioxide emissions has contributed to the rapid ascent of BYD as China's biggest automaker.

The company is also seen as one of the possible suppliers for the production of electric vehicles at Renault's former plant in Moscow, where it plans to produce electric vehicles under the Moskvich brand.

According to the Financial Times, BYD plants were able to remain open during a series of regional closures throughout China, as they are mainly located away from severe outbreaks of COVID-19. For example, the Shanghai Tesla Gigafactory 3 plant, which is responsible for half of the company's global production by 2021, was closed for 22 days in May due to a lockdown due to the pandemic. Even when production at the plant resumed, it struggled to reach pre-pandemic levels due to the ongoing shortage of various components in the market.^[9]

The most unreliable electric cars

At the end of January 2022, the German Technical Inspection and Certification Agency (TÜV) presented the results of an inspection of four popular electric vehicles: BMW i3, Smart ForTwo, Renault Zoe and Tesla Model S. Tesla's electric car turned out to be the most unreliable.

The Smart ForTwo electric car, according to experts, has the lowest percentage of malfunctions: of all the models considered, the problem is estimated at 3.5%. If this figure is compared with the 128 ICE models that were in the TÜV report for 2022, then the electric car would be in the top 50.

The second place was taken by the BMW Group i3 electric car, its reliability is estimated at 4.7%, among the main problems of the hatchback: low beam and brake discs, on which corrosion occurs when not used often enough.

The third position is occupied by the Renault Zoe car. 5.7% of such vehicles turned out to be problematic after three years of operation, among the most frequent defects: problems in the operation of optics and suspension.

The most problematic is, according to the results of the study, Tesla Model S - its figure is 10.7%. Owners face problems ranging from fog lights malfunctioning to defects in suspension arms and control systems.

Officially, Tesla has already had to recall all of its defective models that are experiencing suspension problems. China ordered the company to do so on 18,182 units of the S and X models in October 2020. The most recent case involved swivel fists on the Model Y, which affected 826 vehicles in the US and 21,599 in China. Tesla publicly blamed its Chinese supplier for the problem.

In addition, the Tesla Model S also ranked one of the bottom overall of all cars, ahead of only the Dacia Logan and Dacia Duster.^[10]

2021

The number of electric vehicles on world roads has tripled

By the end of 2021, the number of electric vehicles on the roads of the world amounted to about 16.5 million, which is three times more than in 2018. This is evidenced by data published in May 2022 by the International Energy Agency (IEA).

Sales of electric vehicles in 2021 doubled compared to 2020 and reached a new record of 6.6 million, the report said. Despite global supply chain tensions, sales continued to grow strongly in 2022, with 2 million electric vehicles sold globally in the first quarter, up three-quarters from the same period in 2021.

Sustained government support has become one of the main reasons for high sales of electric vehicles in many markets, with total government spending on subsidies and incentives doubling in 2021 to almost $30 billion.

In China, sales of electric vehicles in 2021 almost tripled and amounted to about half of the global volume - 3.3 million units. Sales also grew strongly in Europe (by 65% to 2.3 million) and the United States (more than doubled to 630 thousand). Chinese electric cars tend to be more compact than in other markets. Along with reducing production costs, this significantly reduced the price gap with traditional cars. The median price of an electric car in China was only 10% higher than traditional offerings, compared to 45% -50% on average in other major markets. By contrast, sales of electric vehicles in most emerging and emerging economies are lagging behind, as only a handful of models are often available and prices are not available to the mainstream.

According to the study, in the short term, the greatest obstacles to the continuation of high sales of electric vehicles are a sharp rise in prices for some of the most important minerals necessary for the production of batteries, as well as disruptions in the supply chain caused by the start of Russia's special operation in Ukraine and ongoing restrictions due to Covid-19 in some parts of China. In the longer term, more efforts need to be made to deploy sufficient charging infrastructure to enable expected growth in electric vehicle sales, the report said.

Prices for lithium, a crucial mineral for automotive batteries, were more than seven times higher in May 2022, relative to the beginning of 2021, and prices for cobalt and nickel also increased. All things being equal, the cost of batteries could rise by 15% if those prices remain at current levels, reversing a multi-year decline. Russia's special operation has created additional pressure, as Russia supplies 20% of the world's nickel for batteries.

European and U.S. governments have industrial policies aimed at developing electric vehicle supply chains domestically, with more than half of all lithium, cobalt and graphite processing and refining facilities in China. In addition, China produces three-quarters of all lithium-ion batteries and has 70% of its cathode manufacturing capacity and 85% of its anodes, which are major components of batteries. More than half of all electric vehicles in 2021 will be assembled in China, and the country intends to maintain its manufacturing dominance.

While nearly 10% of all passenger cars sold globally in 2021 will be electric, the figure for global truck sales is just 0.3%. Electric trucks have so far been actively introduced only in China, thanks to strong state support. However, other countries have only recently announced plans to electrify heavy trucks, and manufacturers are increasingly expanding their choice of models. Long-range trucks require powerful batteries, which are expensive and often require power grid upgrades.^[11]

The largest suppliers of electric vehicles by capitalization

As of November 2021, the largest electric vehicle developers by market capitalization include:

• Arrival
• Lucid Motors
• Nikola Motor Company
• Proterra
• Rivian
• Tesla
• Xpeng Motors

Electric cars overtake smartphones as top source of cobalt demand

On May 19, 2022, a study was published that in 2021, electric cars overtook smartphones and personal computers for the first time as the main source of demand for cobalt, a rare metal used in lithium-ion batteries. Read more here.

More electric vehicles sold than hybrids for the first time in the world

Global sales of electric vehicles (EV) at the end of 2021 doubled and reached 4.6 million units. This is more than the number of hybrid cars sold, which has never happened before. This is evidenced by data from the Japanese research company MarkLines, released in April 2022.

Sales of hybrid cars in 2021 increased by 35% and amounted to about 3.1 million units. EV sales have nearly tripled from 2019, and hybrid sales are up about 30%.

The jump in sales of electric cars is largely due to high demand in China. According to the Chinese Association of Automakers, sales of new EVs in 2021 increased 2.6 times compared to 2020 and amounted to 2.91 million units. Government subsidies and the release of cheap models have pushed more consumers to buy electric vehicles.

Sales of electric vehicles are also gaining momentum in Western countries. In Germany], about 340 thousand electric vehicles were sold in 2021, which is 1.8 times more than in 2020. This is also four times the number of hybrid cars sold in 2021. In the United States in 2021, about 490 thousand electric vehicles were sold, which is 1.8 times more than in 2020.

EV sales in Japan in 2021 amount to about 20 thousand units, which indicates a relatively slow market expansion in this region.

Countries are seeking to accelerate the adoption of electric vehicles as part of the global decarbonization process by building infrastructure and introducing government subsidies that play a vital role in the distribution of electric vehicles.

In Norway, electric cars are exempt from value-added tax, accounting for half of all new car sales in the country.

In China, the government obliges major automakers to sell electric vehicles and other types of environmentally friendly vehicles. The European Union is set to ban new sales of petrol and hybrid cars by 2035.

In the US, the state of California has removed hybrid cars from the category of "zero-emission vehicles." The state requires automakers to produce a certain percentage of zero-emission vehicles.

Global auto giants are expected to invest $330 billion in electric vehicle development over five years to 2025, according to US consultancy Alix Partners. A global battle for EV primacy amid changes in key components such as batteries could even shape the future of Japan's economy driven by the auto industry.^[12]

Leaders in electric vehicle exports named

In 2021, China increased exports of electric vehicles by 260% on an annualized basis to almost 500 thousand units. Such data was provided by Nikkei analysts in their report in mid-March 2022. China has become the largest electric car manufacturing country in the world, overtaking Germany and the United States, which were among the top three. Read more here.

Sales of electric vehicles in the world doubled to 6.75 million units

In early February 2022, data from the International Energy Agency were released, according to which about 6.75 million electric vehicles were sold in the world in 2021, which is 120% more than in 2020.

Experts associated this growth with the expansion of the model range, the development of infrastructure in the form of charging stations, as well as the provision of subsidies related to the refusal of the authorities of states from internal combustion engines.

The IEA report notes that the market could have grown even more, but the shortage of components for the production of batteries seriously limited the capabilities of manufacturers. According to IEA estimates, as of February 2022, there are about 16 million electric vehicles on the roads, which is 8.57% of all vehicles. In total, all electric cars use about 30 TW · h of electricity in one year, the equivalent of all the energy generated in Ireland.

Deliveries of electric vehicles in China by the end of 2021 tripled to 3.4 million units, and the most popular model in the Middle Kingdom was the budget Wuling Hongguang Mini for $4.5 thousand. In Europe, vehicle sales increased by almost 70%, to 2.3 million units. The United States closes the top three with 0.5 million units.

In terms of sales of all-electric cars, Tesla is still significantly ahead of other automotive groups with an indicator of more than 936,000. However, its market share has declined over the past few years from 23% in 2019 and 2020 to 21% in 2021. SAIC, including SAIC-GM-Wuling, is the second largest group with almost 610 thousand and 13% shares mainly due to sales of 424 thousand for the Wuling Hong Guang MINI. This is followed by Volkswagen with 451 thousand and 10% share in the segment of all-electric cars. BYD is fourth with a 7% share, while Hyundai Motor secured fifth with a 5% share. Still, electric cars make up only about 9% of cars sold worldwide, the IEA said.^[13]

2020

Electric vehicle sales up 39%, to 3.1m units - Canalys

According to the analytical company Canalys, global sales of electric vehicles in 2020 increased by 39% compared to 2019 and reached 3.1 million units. At the same time, in the general passenger car market in 2020, sales decreased by 14%. Analysts believe that high demand for electric vehicles will continue in 2021, despite economically unfavorable conditions.

Electric vehicles accounted for almost 5% of all new vehicle sales in 2020, and electric vehicle sales are projected to account for 5 million units in 2021 and more than 7% of all new vehicle sales. In 2020, about 1.3 million electric vehicles were sold in the Chinese and European markets, which is four times the sales of such vehicles in the United States.

Sales of electric vehicles in the United States account for only 2.4% of new cars sold there, although this is where Tesla, the world's leading manufacturer of electric vehicles, is located. Even the policy of a more favorable US government will not change the situation overnight, "said Chris Jones, chief analyst for the automotive industry at Canalys.

Sales of electric vehicles will continue to grow throughout the decade, with Canalys predicting that electric vehicles will account for 48% of all new cars sold in 2030. Analysts said governments will set and maintain policies that incentivize the production and sale of electric vehicles. Increasing performance and expanding the charging station infrastructure will attract even more customers.

Canalys predicts that the number of electric cars sold will grow to 30 million in 2028, and by 2030 electric cars will account for almost half of all cars sold in the world.^[14]

Global electric vehicle market up 43% to 3.24 million

Global sales of electric vehicles showed rapid growth in 2020, increasing by 43% to more than 3.24 million units, despite the fact that total sales of passenger cars fell by 14% during the COVID-19 coronavirus pandemic.

Sales of electric vehicles in Europe more than doubled in 2020, leaving the region ahead of China to become the world's largest market, Swedish consultancy EV-volumes said.

Sales of battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) accounted for 4.2% of the global automotive market in 2020, compared to 2.5% in 2019. Global sales of BEV and PHEV in 2020 were 3.24 million, up from 2.26 million in 2019.

Sales growth is driven by government policies to reduce CO2 emissions, but a key factor, according to EV-volumes sales and marketing analyst Victor Irle, is that "electric vehicles are simply the best technology."

EV-volumes data showed that the five highest national sales of electric vehicles in 2020 were in China (1.3 million), Germany (0.4 million), the United States (0.3 million), France and the United Kingdom (0.2 million each). However, in 2020, growth in the United States was only 4% due to the presence of a small number of new models in the market.

For the first time since 2015, sales of BEV and PHEV in Europe exceeded sales of NEV (new energy vehicles that include electric, plug-in hybrid and hydrogen fuel cell vehicles) in the PRC. For the share of BEV and PHEV cars in Europe, including EFTA countries (Norway, Iceland, Liechtenstein, Switzerland), including the UK, sales increased from 3.3% in 2019 to 10.2% in 2020.

The share of NEV in the PRC during the same period increased from 5.1% to 5.5%. Many European markets have doubled or tripled their EV sales compared to 2019, and the EU accounted for 43% of EV sales in 2020, up from 26% in 2019.

About 150 new BEV and PHEV models are expected to hit the market in 2021. That means growth will continue in 2021, Irle said.^[15]

2019

Growth in exports of electric vehicles to $25.7 billion

Global electric vehicle exports totaled US $25.7 billion in 2019. That dollar amount reflects a 207.4% increase from $8.4 billion in 2017 and a 123.1% increase since 2018.

Compared to $758.4 billion in total international sales of all cars in 2019, electric vehicles account for 3.4% of all exported cars. However, the percentage of electric vehicles sold is growing steadily.

Among continents, suppliers in European countries sold the most exported electric vehicles during 2019 with shipments of $14.6 billion or 56.8% of the global total. In second place were North American exporters with 30.5%, while 12.6% of international sales of electric vehicles were in Asia.

Below are the 15 countries that exported electric vehicles with the highest dollar value during 2019.

1. US: $7.9 billion United States (30.5% of electric vehicles exported)

2. Belgium: $5.1 billion (19.8%)

3. Germany: $3.9 billion (15.1%)

4. South Korea: $2.4 billion (9.1%)

5. Austria: $1.3 billion (4.9%)

6. Netherlands: $1.19 billion (4.6%)

7.: France$1.17 billion (4.5%)

8. UK: $1.1 billion (4.3%)

9. China: $438.1 million (1.7%)

10. Japan: $431.5 million (1.7%)

11. Slovakia: $387.9 million (1.5%)

12. Spain: $264.5 million (1%)

13. Slovenia: $113 million (0.4%)

14. Sweden: $38.4 million (0.1%)

15. Hungary: $28 million (0.1%)

By value, the listed 15 countries shipped 99.6% of the world's exported electric vehicles in 2019.

The world's largest automakers with the capacity to produce electric vehicles:

• BMW i (Germany)
• BYD Auto Co. (China)
• Mercedes-Benz Group (formerly Daimler) (Germany)
• Ford Motor Company (USA)
• General Motors (USA)
• Nissan (Japan)
• PSA Group (France)
• Renault (France)
• Rimac Automobili (Croatia)
• Tesla (USA)
• Toyota (Japan)
• Volkswagen Group (Germany)

July: First market drop in history

Sales of electric vehicles have declined for the first time in history. This is evidenced by data from analysts at Sanford C. Bernstein, released on September 3, 2019.

In July, about 128 thousand passenger vehicles with electric motors (without ICE) were sold throughout, which is 14% less than a month earlier. Demand for electric cars declined in China and North America, but grew in Europe.

Experts attributed the fall of the market in question to a reduction in programs to subsidize purchases of electric vehicles in China. The authorities limited support on June 26, explaining this by the desire to spur automakers to develop innovations in the auto industry.

Despite the July downturn, the global electric vehicle market size posted 35 percent growth in the first seven months of 2019. Researchers expect that the annual sales of such machines at the end of 2019 will rise by 23-48% and reach 2.4-2.9 million units.

Despite the expected short-term weakening of the market in the second half of 2019, we maintain a positive outlook for long-term demand for electric vehicles, according to a report by Sanford C. Bernstein, cited by Bloomberg.

According to the news agency, although electric cars account for a small part of the automotive market, manufacturers rely on this segment, seeing it as a growing business. Slowing demand for "voracious" cars has led to a fall in car markets around the world, and China has experienced the worst collapse in history, Bloomberg notes.

Tesla remained the largest manufacturer of electric vehicles, which in July 2019 sold about 20 thousand such cars. Next is the Chinese brand BYD, and the BMW Group closed the top three.^[16]

In Russia, electric cars are sold weakly. In January-May 2019, Russians purchased only 119 such cars (Avtostat data ).

2018

Frost & Sullivan: Two million electric vehicles sold

According to international consultancy Frost & Sullivan, two million electric vehicles were sold worldwide in 2018, rising to 25 million by 2025, which is estimated to be 20-22% of all vehicles.

Bloomberg New Energy Finance: Sales of electric vehicles - 1.3 million units; China accounted for 60% of

 In 2018, about 1.3 million all-electric cars were sold worldwide (excluding hybrids), and 60% of the volume was in the Chinese market. Such data in March 2019 led analysts Bloomberg New Energy Finance. 

According to their estimates, Tesla remains the largest manufacturer  of electric cars, which in 2018 sold 245,240 such cars. The top three were China's Beijing Electric Vehicle (BJEV) and BYD. 7 out of 10 companies leading the market represent the Celestial Empire.

The wide presence of Chinese manufacturers is due to the powerful state support of such companies. According to the Ministry of Industry and Informatization of the PRC, the government in 2017 spent 6.64 billion yuan ($1 billion) to stimulate consumers to purchase "green" cars. In addition to federal government subsidies, Chinese cities and provinces, too, offer additional incentive programs to make electric cars more attractive to buyers.

However, Chinese authorities are gradually cutting subsidies, seeking to ensure manufacturers pay more attention to technological improvements to ensure the long-term success of the auto industry. As part of the new regulations, which came into force in 2018, China has reduced subsidies to varying degrees for different models of electric vehicles with mileage less than 300 km. 

Consumers have become less profitable to buy cheap electric cars, which account for most of BJEV's sales, as a result of which foreign manufacturers have the opportunity to expand into the PRC.

According to Wood Mackenzie estimates, about 3.3% of sales of new passenger cars in China fell on "clean" electric cars in 2018 against 0.7% in 2015. For comparison, the share of such machines in the American market in 2018 was 1.3%. If we also take into account hybrid models, then the "green" vehicles took 4.5% of the market in China in 2018.

According to the EV Volumes study, in 2018, global sales of electric vehicles amounted to 996,557 units, and taking into account rechargeable hybrids, the number of electrified vehicles sold amounted to 2.02 million units. A year earlier, 1.3 million copies of such cars were sold.

Of the 2 million electric cars and rechargeable hybrids sold, about half were in China. The second largest market in the world was Europe, the third - North America.

The most popular electric car was the Tesla Model 3 - it was bought by 145 thousand people. In second place is the Chinese electric car BAIC EC-Series, in third place is the Nissan Leaf, followed by two other Tesla models - S and X.

EV Volumes calculated that at the end of 2018, the share of electric cars and rechargeable hybrids in sales of all new cars in the world reached 2.1%. Pure electric vehicles occupied about 1% of the market, respectively. The distribution by country, however, is uneven. For example, in Norway, new electric cars occupy almost half of the market, and in Russia their presence is almost imperceptible.

The biggest carmakers are lagging behind Tesla and Chinese rivals in the electric vehicle market, but are making big plans for it. For example, Volkswagen, which sold 8,000 fully electric and hybrid cars in China in 2018, expects to sell 400,000 such cars in 2020, and 1.5 million by 2025.

Bloomberg New Energy Finance predicts that 31% of new car sales and 20% of the global fleet will be electric by 2030.^[17]

Bloomberg: By 2025, 47% of all buses in the world will be electric

According to Bloomberg New Energy Finance, by 2025 almost half of all buses in the world will be electric. China is the leader in this regard - it will account for 99% of electric buses. One of the first cities where all buses are electric was Chinese Shenzhen - we are talking about 16.3 thousand city electric buses^[18].

According to analysts at Bloomberg New Energy Finance (BNEF), by 2025 the number of electric buses will more than triple - from 386 thousand last year to 1.2 million. Thus, electric buses will account for 47% of all buses in the world. As noted in BNEF, electric buses are still more expensive than buses on diesel fuel or natural gas, but the operating costs in their case are lower, taking into account the cost of fuel and technical costs. In addition, a decrease in the cost of batteries will lead to the fact that by 2026 electric buses will be able to compete with diesel buses. According to BNEF estimates, lithium battery prices in 2017 decreased by 24% compared to the previous year and were five times lower than in 2010.

{{# youtube: "China will be the leader in this market, thanks to strong domestic support and aggressive urban targets," said BNEF analyst and study author Alexandra O'Donovan. The Chinese authorities are very actively supporting the spread of electric vehicles. The Chinese government is going to introduce quotas for the production of electric vehicles for all automakers. In addition, the Chinese authorities are stimulating business to build battery factories.|680|400}

Electric buses attract the attention of city authorities not only in China, but also around the world. Thus, the authorities of Paris and Amsterdam decided in the coming years to completely switch to buses with zero harmful emissions into the atmosphere. Last summer, the first three all-electric buses started operating in London. One of the European leaders in the distribution of electric vehicles is Norway - in 2017, more than half of the cars sold in the country were fully electric or hybrid. In September, Volvo received an order for 25 electric buses from the Norwegian city of Trondheim. In early January, the first electric bus was launched in Oslo.

The Los Angeles authorities have promised that by 2030 all buses in the city (now there are about 2.2 thousand of them) will be electric. In January, testing of ten Proterra and New Flyer electric buses began in New York, if they demonstrate their effectiveness, the city authorities are going to buy more electric buses. In general, the number of electric buses in American cities increased last year by 83% - to 333 buses. True, so far the share of electric buses in the United States is only 0.5% of the total number of buses, and only 9% of transport companies have electric buses.

2017

Record sales of electric vehicles and hybrids

On January 29, 2018, EV-Volumes analysts presented preliminary results of a study of the global market for electric vehicles and rechargeable hybrids. It turned out that in 2017, manufacturers of such vehicles set a record: more than 1.2 million cars of this class were sold around the world, which is 57% more than a year ago. At the same time, in 2017, sales of electric vehicles increased by 66%, and rechargeable hybrids - by 34%.

For the second year in a row, China remains the world leader in demand for electric cars, where annual sales increased by 72% to 602 thousand cars sold. This means that about half of the electric vehicles produced in 2017 were sold in the Middle Kingdom. In second place in popularity was Europe, here sales reached 307 thousand units, which is 38% more than in 2016. Iceland showed the highest growth in the European market (+ 248%). This is followed by Slovenia (+ 166%), Portugal (+ 126%) and Germany (+ 108%).

In third place in terms of sales, the US market. About 200 thousand electric cars were sold here, the increase was 27%. Also, a high growth in sales of electric vehicles and hybrids was noted in Japan - by 149% to 56 thousand units. The Japanese managed to achieve such success through the release of the new Nissan Leaf and Toyota Prius Prime PHEV, which instantly won the "green" car market, the researchers note.

Sales of electric cars and rechargeable hybrids rose strongly in December. In total, over the last month of 2017, over 170 thousand such cars were sold in the world, and their market share was 2%.

According to analysts, if such growth rates continue, about 1.9 million electric vehicles and rechargeable hybrids will be sold during 2018, and the total number of electrified models used in the world will exceed 5 million. ^[19]

Countries leading in the number of hybrids and electric cars

In 2017, the number of all-electric and hybrid cars on global roads surpassed the 3 million mark as manufacturers ramp up their plans to mass produce battery-powered vehicles, analysts told EV-Volumes.

They note that the rapid growth in sales of electric cars is stimulated by encouraging states, reducing the cost of batteries, and the fact that manufacturers are launching models for a wider range of drivers. 

Sales will accelerate in 2018, and the total number of battery-powered cars (hybrids plus electric cars) on the roads will rise to 5 million by the end of the year, according to forecasts from research agency EV-Volumes, which tracks the global electric vehicle market. In the same 2018, many new models from major manufacturers will be released, including the Jaguar iPace and a version of the world's best-selling electric car -  the Nissan Leaf - with a higher range. In addition, a "people's" electric car from Tesla Motors will be presented.

 By the end of 2017 China , it is the world's largest market for electric vehicles, according to EV-Volumes research. The state supports this segment with subsidies in the hope of reducing smog problems. In addition, the China countries with the most electric vehicles and hybrids include,,, USA Japan Norway Holland and. Britain

China is the main market targeted by Toyota with 10 electric vehicle models, which the manufacturer plans to start selling in the first half of the 2020s. The company said in December 2017 that it was going to stop producing gasoline and diesel vehicles without a partially or fully electric version. Similar statements have already been made  by Volvo  and Jaguar.

 Toyota also said it intends to roll out a new generation of batteries in the early 2020s, allowing electric vehicles to travel longer distances using solid-state technology that will reduce battery costs while increasing their safety and capacity.^[20]

1910: Edison Battery Electric Car Test

Notes