The last decade has witnessed tremendous growth in global electric vehicle (EV) sales. From about 130K EV units sold in 2012, today, up to 16M of these are in active service worldwide. Part of that growth is due to declining prices of lithium-ion battery packs that are crucial to powering them. Additionally, there’s been an increase in global consciousness on sustainable transport means.
BanklessTimes has been researching the global EV sales trends. In a recent data projection, the site indicates that the global EV sales hit the 6.6M mark in 2021. That figure represents roughly 9% of global car sales in that year. Additionally, it’s double the 3M EVs sold in 2020 and triple the 2.2M units sold in 2019.
Further, BanklessTimes reckons that the annual electricity consumption of the 16M EVs plying our roads is about 30 terawatt-hours (TWh). That’s equal to Ireland’s electricity generation yearly. These are an important ally in the fight against CO2 emissions as they have cut down consumption of fossil fuels.
China Leads in EV adoption
BanklessTimes’ compilation shows December as the month that attracted the most EV sales. Across the three leading EV markets, December’s sales more than doubled January’s. Again, 2021 monthly EV retails outdid 2020’s corresponding months’ figures by at least 50%.
The data shows that China is the largest EV market in the world. In 2021, it retailed 3.4M units. That was more than the combined total from the rest of the world in 2020. To get there, it had nearly tripled that year’s sales.
China has been at the fore of EV adoption for a while now. From 2015, it has had the fastest yearly increases in that space. Its EV market is on course to meet the government-set target of 20% share of yearly motor vehicle production by 2025.
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