Electric Cars Hit 2 Million Across the Globe

Electric Cars Hit 2 Million Across the Globe

China remained the largest market in 2016, accounting for more than 40 per cent of the electric cars sold in the world, report WAM, the Emirates official news agency, citing the latest edition of the International Energy Agency's Global EV Outlook.

Despite being considered a "green" populace, and with one of the highest rates of bicycle usage in Europe, the government's decision to apply the same tariff to electric vehicles as already exists for internal combustion cars has proved disastrous to EV sales.

"Between 9 and 20 million electric cars could be deployed by 2020, and between 40 and 70 million by 2025, according to estimates based on recent statements from carmakers", the statement added. The bad news? Only 0.2 percent of current passenger light-duty vehicles on the road are actually EVs. If that number were to grow to 50 million, electric cars would still account for no more than 5 percent of the worldwide stock of cars. Additionally, 95 percent of electric cars sold today are bought by just 10 countries. "With more than 200 million electric two-wheelers, 3 to 4 million low-speed electric vehicles (LSEVs) and more than 300 thousand electric buses, China is also by far the global leader in the electrification of other transport modes".

"The electric vehicle market is set to transition from early deployment to mass market adoption, over the next decade or so".

At the same time, European countries collectively sold 215,000 electric cars past year, with countries like Norway, the Netherlands, Sweden, France and the United Kingdom leading the way. "In order to limit temperature increases to below 2°C by the end of the century, the number of electric cars will need to reach 600 million by 2040". Until recently electric cars were spared the 180 percent import levy that affects petrol and diesel cars in Denmark, with the Government citing budgetary constraints as the reason for scaling back EV incentives. "Strong policy support will be necessary to keep EVs on track", IEA said. However, certain countries with vibrant electric vehicle markets could reach mass adoption much sooner, and these regions can be case studies for the rest of the world.

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