April 9, 2022 – The world is about to pass another important milestone in electric vehicle adoption: 20mn plug-in vehicles on the road globally, come June, according to Bloomberg NEF estimates. That’s remarkable growth from only 1mn EVs on roads in 2016.
Taking a look at the geographic breakdown of the vehicles underscores how just a few regions are driving most of the adoption. China accounts for 46% of the total sales to date, followed by Europe at 34%. North America is a distant third at 15%, but fresh policy support should get that EV market moving this year and next. All the remaining countries combined account for just 5% of the global EV fleet.
The next few years will bring remarkable progress on EV adoption, but it’s worth keeping in mind just what a huge task it is to convert the world’s vehicle fleet. BNEF estimates that there are 1.2bn light-duty passenger vehicles on the road globally. At the end of 2022, just over 2% of them will be electric. There’s still a long way to go. But the momentum is building.
via The National News